South Korea will delay the cryptocurrency tax
Amid growing criticism from traders, the country will only introduce a tax on cryptocurrency from next year
30.11.2021 - 08:00
251
1 min
0
What’s new? The South Korean Finance Minister Hong Nam-ki has stated that cryptocurrencies such as bitcoin will be taxed as “intangible assets” from next year. This is reported by the local media.
“It's inevitable, we will need to impose a tax on profits from the trading of virtual assets.”
Why was the bill postponed? The South Korean authorities have previously discussed the possibility of introducing a tax on cryptocurrency. The government had offered to tax annual cryptocurrency profits of 2,5 million won ($2200).
The project was criticized by the crypto lobbyists, and the South Korean government officially postponed the introduction of a new cryptocurrency tax until 2022.
Useful material?
Telegram 
Twitter Market
Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins
Apr 18, 2024
Trends
The first project introduced on the platform will be BounceBit (BB)
Apr 18, 2024
Business
The rate exchange of the native ACH token reacted with a 10% increase
Apr 18, 2024
Market
Miners are hunting for the first block after halving as the value of the first satoshi could exceed $1 million
Apr 18, 2024
Market
The platform will be non-custodial and accessible to everyone
Apr 15, 2024
Market
China Asset Management, Harvest Global Investments, and Bosera Asset Management have received permits
Apr 15, 2024
Cryptocurrency rates
-
Bitcoin
$64 066
BTC
+3.49%
-
Ethereum
$3 061.07
ETH
+2.23%
-
BNB Smart Chain
$560.92
BSC
+3.32%
-
Ripple
$0.513183
XRP
+6.11%
-
Dogecoin
$0.155301
DOGE
+5.65%
-
Cardano
$0.49402
ADA
+12.02%
-
Bitcoin Cash
$478.8
BCH
+3.66%
-
Polkadot
$6.78
DOT
+4.14%
-
Litecoin
$82.48
LTC
+4.66%
-
Stellar XLM
$0.113295
XLM
+4.57%