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/ 20% is too high for technology businesses now. This seems to be a ban for crypto businesses and startups in Korea. It seems that they are quite negative about crypto and do not want their people to participate in this decentralized market. This will cause a lot of difficulties for Korean businesses, maybe all will have to move to other countries to work.