Post
Topic
Board Bitcoin Discussion
Re: South Korea will raise the Crypto Captial Gains tax to 20%
by
20kevin20
on 15/07/2020, 06:22:11 UTC
That is a bull shit tax policy. Crypto market is volatile and the difference between profits and loses are too small and it might be flipped in a very short period of time, in minutes, hours or a couple of days.

I have not said about the potential risky loses due to attacks and hacks on personal wallets. People can lose huge funds with the stolen funds on their personal wallets. How the governments can count for such loses for investors? It is a very complex problem and not easily to be solved. Maybe there will be people blame on and say lies about wallet hacks and fund loses (in reality they don't lose anything) but the true unlucky losers will do suffer unfair in such tax policy. They don't have any protective policy. They lose their funds on personal wallets and get double loses with high tax rates.
I would not mind at all if my government taxed me a higher % of my profit as long as it's used the right way. Not sure about SK, but in my country it isn't. The thing is, you probably only have to pay % for the profit you withdraw. In other words, if you lose money you most likely don't have to pay anything, do you? That'd really make no sense..