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.
Will,maybe this is the result why the government of korea not impulse totally band of all cryptocurrency in there country,they make a treaty to,all the exchange traders in there country to implemement a tax of 24.2% from corporate and to the local income tax,so that this will become usefull to the rehabilate to there community.They impulse these law to prevent some exchanger to used this cryptocoin in the money laundering.