Post
Topic
Board Economics
Merits 1 from 1 user
Re: Korea proposes 20% tax on crypto trading starting 2021
by
The Pharmacist
on 22/07/2020, 01:44:50 UTC
⭐ Merited by pixie85 (1)
I don't live in Korea, but I find this interesting nonetheless.

The disgruntled citizens have a good point with this:
Quote
Their argument is that stock market gains carry a minimum threshold of about $16.5k while the proposed minimum threshold for cryptocurrency trading is only about $2k. Furthermore, the stock market tax will be applied in 2023 whereas the crypto tax would start next year if passed.

Not sure what the rationale is behind hitting crypto owners harder than people investing in the stock market, but then again a lot of decisions made by government committees don't make a hell of a lot of sense anyway.

It seems really strange to me that news stories like this are appearing over 10 years after the creation of bitcoin.  It amazes me that there are still governments (and not just Korea's) that haven't completely figured out to handle cryptocurrency from a regulatory standpoint.  It's still like the wild west sometimes.