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.
I think here such type of tax system will make people force to down the work of bitcoin Because this is not that better rule of taxation . Tax of 24%+ is really a big amount because here the workers in cryptourrency how can they pay if they will make very small amount of earnings and will pay more than that what they will make .
In actual my view toward this taxation system is saying clearly that they will not fully make people free to use bitcoin and at another side their rules will make people to leave bitcoin ,in this way bitcoin popularity will go down more than what people were using without more restricted rule of tax .
And also at another side if anyone will exit through this work then during withdrawal of all of his money he will needed to pay 24% tax no matter he is in profit or loss .