South Koreas 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.
this could lead to two endings, either the exchanges in south korea start to die out, or they simply pay 24.2% of their incomes as tax, which is not much actually.