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.
So they will need to pay an income tax like every other business and this is the end of the world?? They are taking fees on every trade, why shouldn't they pay taxes over their income?
I find it reasonable and normal. There are many countries with higher income tax.