South Korea Government planning to tax crypto profits.

South Korea Government planning to tax crypto profits.


The South Korean Government is planning to tax crypto profits and arrangements to implement it are ongoing In that direction.

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This new measure is being studied and the Government plan to tax the Residents who are into crypto and it will be ongoing next year.

This is not the first time a Government try to tax their residents In the Crypto Space,last month Ukraine told that they will implement a measure to tax the crypto community In the community about 5% in the first five years and 18% for the subsequent profits made by the residents if the measure go through.

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Well ,I don't know how those Governments are planning to tax crypto profits but for me it sound that they must have strictly Regulations an it that benefit the citizens ,not only to tax them.

Government Behaviour must be fair and protect their citizens if those plans are meant to become reality those implements must protect also their savings In case something bad happens and those profits generated by trading must be also an guarantee that the resident will have Government Support to recover their Funds from an Exchange or third party that negotiate Crypto.

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If the Government not backing up the Citizen from those Crypto Companies ,what is the intention to tax them?!


alberdioni8406
alberdioni8406

A Bitcoin & Crypto enthusiast also a crypto content independent writer!


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