South Korea Opens Doors for Cryptocurrency

[CryptoGosu]

The Korean cryptocurrency market is very bullish. If the cryptocurrency market in Korea recovers, we will see a revival of the market.

[Alfred Perry]

because it was not long ago that the Amble Blockchain meet up was organized in Seoul and with so many projects are springing form the Eastern side such as CryptoSouk and Cryptassist.

[blocklancer8]

Very good news, this country has been able to see that this cryptocurrency can turn its country into a developed country. And I believe that in the coming years many nations will use bitcoin as a good digital currency to help the economy of the people.

[samescrew235]

South Korea is a country that might be one of the pillars of cryptocurrency in the world, we know that South Korea has good potential and now South Korea will continue to be one of the best countries for potential cryptocurrency. if South Korea opens the door for cryptocurrency this can be a good thing.

Exactly. SK and Japan right now, are leading by example. Hopefully, other countries will follow in their footsteps.

[princeyeboah]

No wonder South Korea is flourishing in its economy. It is one of the countries which utilizes every opportunity at its disposable to develop the country. Adopting Bitcoin and cryptocurrency in South Korea is a great news and will cause a revolutionary change in the world of crypto.

[CryptoMoar]

yes this is good news. In 2017 South Korea was the third largest country to trade bitcoin after the United States and Japan. and then South Korea earlier this year announced it banned cryptocurrency for fear of crypto being used for illegal activities. but in the middle of this year there was news of receiving again this really a good start. the Korean government issued a regulation for crypto trading that must include a bank account registered with the user's real name so that this will minimize the use of crypto for illegal activities. hopefully with the increasing number of countries that accept bitcoin, the price of bitcoin can rise again.

[ninokh]

 South Korea is one of the largest bitcoin trading countries in Asia and the 11th richest country in Asia. so if the Korean government leaves bitcoin and also provides tax rules. then this will attract Korean investors to invest in bitcoin. and if many investors buy, I hope that it will have an impact on the bitcoin price movement. I hope this news will make bitcoin rise again.

[loopes]

Before this time, almost Korean investors really worried about new tax policy for cryptocurrency.
That's why all news said the government will apply 3~40%taxes for crypto at Jul~Aug.
But today, the government said we will apply 10~15%taxes for crypto like interest income tax, and it is very acceptable to all Korean investors.
Also they said we feel hard to say it will happen within this year and although will happen this year, there will be 1~2years stay period.

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&oid=023&aid=0003382087&sid1=001&lfrom=kakao

In conclusion, Crypto is accepted by government's legal property, SO MANY KOREAN INVESTORS WILL GET INTO MARKET AGAIN!

The tax rate is still too high, South Korea economy is not so good now but I think 10-15% for tax is too high. In my opinion the ideal rate for the taxation is  about 1-2,5%. By that rate it will make more people to invest in cryptocurrency. By the way it still a good news for cryptocurrency users in Korea.

[Cupomi]

I hope this will make bitcoin prices skyrocket again if more countries allow bitcoin, eat more investors to invest in it, automatically if the number of investors increases then the price will immediately move up, and this will provide benefits for investors because the price difference buying and selling price

things like this have been predicted, if we see Japan in America and other developed countries opening up to bitcoin then the effects of South Korea follow in the footsteps of other developed countries so we can see things like we often hear, other countries are sure will follow so we must always think positively, things like this will always raise the price of bitcoin and make the position of bitcoin stronger ...

[hirngespenst]

This is a reasonable tax fee, the government of South Korean made a great decision to keep investors active on the crypto platform. My country is a developing country, here bitcoin and cryptocurrency announced illegal but if the government will apply the tax-fee in our country then we will agree with the government. However, this is a very Good news, I think the crypto market is being stable now, anytime the bull run can start.

[thankyoulord]

south korea taking this step is a plus for the cryptocurrency world and blockchain technolgy. Goes to show more people, companies and countries are accepting and adopting the use of bitcoin. in few years to come, we see other countries using bitcoin fully

[minersday]

south korea taking this step is a plus for the cryptocurrency world and blockchain technolgy. Goes to show more people, companies and countries are accepting and adopting the use of bitcoin. in few years to come, we see other countries using bitcoin fully

I think that people needs to stop giving all their faith to a single country, in fact, i think that south korea is as very difficult country and maybe they are never going to accept it at a 100%.

The same happened with China a year and a half ago, it is all the same cycle.

Nevermind, the bitcoin adoption will happen, but not now.

[Ethan Argu]

It has a good news for all people in south korea it has a potential like japan, many people will help to invest in crypto as part of the business. It embrace the importance of crypto to thier community by the support of the goverment.after many years many people wil using crypto together with developing technology.

[altercreed]

Korea is one of the leading countries in Asia in cryptocurrencies now and news about regulations and even banning cryptomarket was on hot seat lately. Glad to know that their decision is in favor of cryptos which i believe is a good decision that can benefit their nation.

[Marbelli]

South Korea is a big player in the cryptocurrency market and I can tell you that this is very good news because such a big country approves of cryptocurrency

[ansarose1]

That's a great news and besides year ago south korea doesn't accept bitcoin in fact their country is not interested on cryptocurrency so far, but now they open doors to bitcoin and cryotocurrency. Every crypto enthusiast hopes that all country around the world would accept cryptocurrency as a whole. Because it can also give a good impact to bitcoin and altcoins in the market.

[Riingdian]

That's good to know. South Korea is playing great role to Cryptocurrency market. I think this may increase the price of cryptos again.

Not sure about this. Even South Korea is a big economic, up to now, It still doesn't help to increase the price of cryptos.

[Snowflower11]

Soon we will see the tendency to accept bitcoin as a commodity, a way of storing assets in countries around the world. But besides that, I think the countrys will issue separate and specific laws for cryptocurrency such as taxes, ICO legal regulations, exchanges

[Netnox]

The big question is whether their stance can be trusted or not. In the past, the South Korean government had made so many u-turns regarding its crypto regulation policy. At least on two occasions, this crashed the exchange prices in the exchanges.

[PlusOne88]

The opening of the doors to cryptocurrency is a good action but applying  higher tax rates may not be so beneficial to the investors and maybe to products where the coins are used because it will certainly add to their prices or values. There must be better opportunities for investments to allow more investors to come in and the use of cryptocurrency will be best appreciated by businessmen and clients. This scenario might just be able to solve the bearish market that we have.