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% corporate 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 for wise investors in this market.
RothscoinTeam.
It is good that the South Korean government's policy of using bitcoin in the country.
And I think the government requires to distribute transaction data to banks aimed at avoiding criminal acts such as money laundering using bitcoin.
By reporting transactions to the bank it will always be monitored transaction data of someone using bitcoin.