South Korea’s government has reportedly imposed a tax on the domestic Cryptocurrency exchanges.

To be specific, they will be subject to a 24.2% tax (22% coporate and 2.2% local income taxes). According to Yonhap News Agency, the government is also requiring exchanges to share the transaction data with banks.

Tom Lee, a strategy analyst, reckoned there would be a dramatic drop in Bitcoin price down to $8,000-9,000, followed by a sharp increase to above $20,000 by the end of 2018.

This year is anticipated to be a rough, yet successful year to wise investors in this market.   

RothscoinTeam.