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/ wow, this is not very good news for Korean crypto businesses. Exchanges will be the most affected businesses, and it is unlikely that Korea will have good technology businesses at crypto. Hopefully this is just a bill and will make less tax adjustments in the near future, 20% is too big for businesses to function properly.