Quote from: The Pharmacist on Today at 01:44:50 AM

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.

I think it's because stock markets and people investing in stock markets actually circulate in their home Economy. The one who buys the security on stock exchange provides liquidity on the stock exchange of that country while coming to cryptocurrency chances are trading in cryptocurrency you would throw up the currency outside of your country. This makes currency weaker. Stock markets will always get advantage over cryptocurrency in eyes of authorities. But yes taxing cryptocurrency is still a mystery. Governments need some chunky mechanism to do so.