...this news should have a positive impact on bitcoin prices, because South Korea has a big crypto community which became inactive due to the various regulations imposed on it by their government. It’s also pertinent to note that if South Korea’s government decides to tax crypto’s income, then they’ll be compelled to accept it as a legal tender which will further fuel up bitcoin prices.
That can already be a good trade-off which should be taken as a positive move if ever by cryptocurrency lovers in South Korea. This country is known as one of the most important and active cryptocurrency market and things happening in this country can directly and indirectly affect the price movements of different cryptocurrency platforms. Let's hope that the government can come up with acceptable tax rate and related requirements for income derived from cryptocurrency. Of course, expecting that tax-free can be forever is not realistic as the government has the mandate to collect taxes whenever applicable.
Yeah, I also agree with that. But on the other hand we also lose the principle of bitcoin itself, which is decentralization, where when taxation about crypto is enforced, they indirectly also need to verify themselves. But I think this has become the best scenario now, rather than crypto being completely banned, at least this policy has a middle ground of crypto policy problems so far.
