It's been a long time coming but it looks like they're finally here. Crypto taxes in South Korea.
Took them long enough. Honestly they don't look that bad. it's better than the capital gains threat that was being thrown around for a while.
20% on gains, minimum threshold is $2k/year, filed under income tax, starting October 2021.
https://thenews.asia/korean-crypto-tax-amendment-sent-for-review/Thats far high having 20% taxation for every gain cryptonians has?
I believe that this will never be go straight because how can every investors gain when they will be required with 20% high taxing?
And also they must strengthen Laws against crypto scammer because they sentenced this one with almost 3 years penalty taking more than 240 million dollars from the people?
https://cointelegraph.com/news/crypto-scammer-sentenced-by-south-korean-authorities
If people saw their safeties in investing here in crypto?then they may be supported towards taxation that they are asking for.