South Korea's break their law for taxes?

[khan22 3478]

On 1/12/2020 at 12:14 PM, bliznec said:

South Korea is not yet the formation of cryptocurrency, was in the law. But blockchain is still spreading in South Korea. 

Crypto market is not legal this time in the south korea but i hope soon the crypto amrket is going to b legal and in all the world crypto is going to be famous and legal and the coins touch the sky that time.

[abd1992 960]

I don’t know exactly if cryptocurrency transactions can be tracked. I think digital currencies cannot be tracked so that taxes are imposed

Edited December 5, 2020 by abd1992

[kryptonick 2659]

I don't know the laws in Korea exactly but I think there will be taxation as in other places because this is what happens with regulations, they are always taxing and I remember reading something about this which was giving a small edge to small traders.

[Abdul1168782 572]

Yes you are right and i also noticed Many countries and banks. Which are thinking to accept and almost near to remove ban from these coins. Which is really fever able for everyone who loves with crypto currency.

[Brandonsaw 1973]

Why does South Korea want to tax bitcoin that should not be done against satoshis nakamoto since he created his system of not paying taxes that badly that governments want to take advantage of cryptocurrencies for them to fill their pockets I do not like those  countries that charge you taxes for using cryptocurrencies.

[Zeshan Khalid 2577]

It is their internal matter and it's completely justifiable to apply taxes while regulating them. National government must also have opportunity to gain benefit from cryptocurrencies transactions in their country 

[cryptovlek 2597]

On 1/12/2020 at 3:45 AM, nicolas1234789 said:

. But there are still policies that seem jumping and not coherent, especially regarding taxation

They don't break their laws, it is the government so they can make a law and pass it from their parliament. Taxation laws are passed easily so there won't be a problem. The policies against crypto make it harder for promotion of technology research in the fiel of digital currencies so it needs to be better planed and less than something they are planning.

[entrepreneur 634]

I think that people will not like tax on cryptocurrencies, because it is not a real good and it is just another form of currency. It is like they would enforce tax on buying dollars ( in south koreea ) that makes no sense.

[RonaldB 48]

One of the most important reasons why many countries do not adopt the use of cryptocurrencies is their failure to impose taxes on their users.

[Garion hirao 550]

It is very difficult to obtain taxes from cryptocurrencies and many countries prohibit dealing in cryptocurrencies because they cannot collect taxes from them

[Wane Rastuar 583]

It is very difficult to obtain taxes from cryptocurrencies and many countries prohibit dealing in cryptocurrencies because they cannot collect taxes from them

[Serbberq 724]

Korean are really supporting the cryptocurrency and for them to stop crypto trading is easy but with the number of people in the country that are into cryptocurrency is better to impose tax than stopping crypto transactions in the country. 

[Nupeboy 627]

Yes south Korea are the people using bit coin so much so they are going to benefits from it and their people will also have good opportunity to invest in bit coin but the truth is that they have to reduce the price of tax

[Amna Hareem 1213]

On 1/12/2020 at 6:45 AM, nicolas1234789 said:

South Korea's presidential office through PCFIR said it was no longer possible to stop cryptocurrency trade. Around 2017 - 2019 South Korea tends to be strict about bitcoin and cryptocurrency. But there are still policies that seem jumping and not coherent, especially regarding taxation. Their government try to get taxes from bitcoin transaction but the regulation isn't finish yet. Now they see benefits from bitcoin but taxes with out regulation is that break law it self?

 Dear I think first of all countries should accept Bitcoin and many countries have accepted because people are using it and it is becoming popular that's why many main country accepted but till now it is illegal in many countries and also band so I think it should legal in every countries and every man should get benefit from it.

[Quickbee 26]

The South Korean government has realized the importance of Cryptocurrency. So instead of banning it , the Government is considering to tax Bitcoin transaction.

[m7md 0]

It is difficult to impose taxes on the fields of cryptocurrencies and Bitcoin because the decentralization characteristic of cryptocurrencies allows for the inability to monitor or control them by anyone and this is what makes it difficult to impose taxes on them 

[HasFahd 500]

It the best thing they have actually do, for a Nation as developed as Korea to prohibit Bitcoin and cryptocurrency is a bad idea, I think now that they benefit from cryptocurrency and now that they have withdraw there intention about how to prohibit it is a wise and nice idea

[zhoutong 2188]

There was a lot of discussion about South korean taxation on trading, who cares now though? Bitcoin is above 30k and last year we had fears that Koreans could tax Bitcoin and price would drop. Nobody cared about all these that the crypto news were creating as they didn't have what to write about.

[teebasas 3018]

Finally, one government has realized the truth: you cannot control bitcoin. Stop attempting to encircle bitcoin with a noose. This is, without a doubt, the most decentralized object ever devised. Instead of battling it or attempting to avoid it, recognize the vision and goal and embrace it, allowing it to take its rightful place as the second best currency after your national currency.

[piuri01 446]

The truth is, I don't think it violates the law, for example here in my country they want to do the same, put taxes on cryptocurrencies and I think they will make it happen, but the coins will still be safe.

[Jack764 1841]

The field of cryptocurrencies is decentralized and difficult to control, and it takes more time for laws to be put in place by countries and forcing people to abide by them.

[hghadeer611 689]

In my opinion, governments should allow cryptocurrencies because they solve many social problems, such as unemployment, poverty and ignorance. Many projects can be opened from the profits of cryptocurrencies, but I think that what scares governments is the unknown transactions where cryptocurrencies constitute a suitable solution for those who trade in contraband. They have to find solutions to stop them first.

[Dadouasaad123 902]

In my opinion, those who use cryptocurrencies badly are the reason for taxing users in South Korea, it is unfortunate for the rest of the users, the cryptocurrency project is to be decentralized, and taxation opposes this rule, they should stop these fraudsters who abuse crypto.

[kion 381]

The first time that I heard that Korea is trying to impose tax on cryptocurrecy, I was actually confused as to how that can be possible because as we know, cryptocurrecy is a decentralized system where we can't trace anything from it, so if the Korean government can't hold on to there tax rules,  I guess that is what is expected.

[Alish198562 436]

I think the reason behind all this is due to the increase in the number of cryptocurrency users in South Korea. Tax duties may contribute significantly to the country's economy, but I think it is difficult to achieve this because many members work here anonymously.