Quote from: Wysi on November 01, 2019, 08:07:20 PM

Quote from: s92225 on November 01, 2019, 12:49:32 PM

Currently, crypto is NOT taxed in korea. If they do this, it most likely WILL be taxed in korea.

Please everyone, for the sake of me, lets all sign a petition to stop the Korean government from doing this to ME and everyone like me. This will not raise trading volumes on korean exchanges and will only hurt those invested in crypto in korea.

Damn you Korean government! Damn you all to hell....! Source: http://www.thebchain.co.kr/news/articleView.html?idxno=5981

Just a mere online petition is not going to make any difference and please help me understand if everyone adopts crypto and uses it to pay their bill, service providers and business then government is losing out on tax as it's as simple as tax evasion just because you are using crypto as a mode of payment. I think it's our duty to pay tax if we are earning through crypto as well and fall on the slab of taxable income.

The OP should be grateful and enjoy the situation as long as the SK government has not implemented their regulations yet.
We are already heading to the scenario of having crypto as legal tender and actually been on the works in several countries already.
So no matter what, we will be heading to this situation. It is only a matter of time when those governments will finally give the regulations on how to deal with cryptocurrencies.
And giving crypto as a legal status has some benefits to crypto users. But of course, one consequence is paying tax out of it.