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=5981This action by the South Korea government is good thing to officially make cryptocurrency legal. Legalisation does not necessarily mean that people will be taxed for using cryptocurrencies. It means the country finally recognised the use of cryptocurrencies as a legal entity. People with companies or platforms that provide services in the crypto ecosystem are the ones who are likely to pay some taxes for their services they provide to people. Individual people are not gonna pay taxes for owning cryptocurrencies...
Korea has really been positive with Bitcoin, when in fact, their financial regulatory bodies as per reports last year, it was reported that they will support normal crypto trading.
Actually, South Korea is the 3rd largest market for Bitcoin trades all over the world, this is according to the report by BBC, as their demand there gets so high, so this dramatic increase in interest by Korea to crypto investment is one of the reason that they will legalize crypto there.