South korea imposing taxs on crypto traders !

[Moustafa 78]

South Korea imposing a 20% tax on cryptocurrency transactions.
In your opinion why does south Korea do that and how it will effect the South Korean traders? 
And do you think that in the future more countries will do that or not?

[Oxygen 1004]

1 minute ago, Moustafa said:

South Korea imposing a 20% tax on cryptocurrency transactions.
In your opinion why does south Korea do that and how it will effect the South Korean traders? 
And do you think that in the future more countries will do that or not?

I think it is better to implement taxes on bitcoin and other crypto currenices instead of it is being banned by governments. We can get lot of benefits from crypto currencies, but the rate of tax should be little cheap as compared to fiat currencies tax.

[abdullah553 1981]

I don’t know yet, is that true ??
Did South Korea actually tax the cryptocurrencies appear to be very sad?
But I think that it cannot control operations originally cryptocurrencies that are not under the control of countries or governments

[Moustafa 78]

9 minutes ago, Oxygen said:

I think it is better to implement taxes on bitcoin and other crypto currenices instead of it is being banned by governments. We can get lot of benefits from crypto currencies, but the rate of tax should be little cheap as compared to fiat currencies tax.

Yes, I agree with you and I think this tax isn't bad but in other Countries, crypto is very easy to trade with it and they didn't ban it or imposing any tax.

[khaler 1549]

Is this true ?  I do not think that digital currencies are not under the ownership of any country or government, but if this is healthy, then it is unfortunate because this tax is high

[Alamin016 182]

9 minutes ago, Moustafa said:

South Korea imposing a 20% tax on cryptocurrency transactions.
In your opinion why does south Korea do that and how it will effect the South Korean traders? 
And do you think that in the future more countries will do that or not?

I think South Korea did this for two reasons, or for e-commerce that you think it's a danger to you or because they see that the traders are earning money huge by this process and want to strengthen their economies .
And I don't think there are any other countries that would do that. what are your fees?

[abdullah553 1981]

3 minutes ago, Alamin016 said:

I think South Korea did this for two reasons, or for e-commerce that you think it's a danger to you or because they see that the traders are earning money huge by this process and want to strengthen their economies .
And I don't think there are any other countries that would do that. what are your fees?

Yes, it may have been taxed because of the high demand for cryptocurrencies in South Korea and because of the weakening of the country's private economy and by this it collects money and does not ban cryptocurrencies
But can she monitor crypto currencies?

[Moustafa 78]

1 minute ago, khaler said:

Is this true ?  I do not think that digital currencies are not under the ownership of any country or government, but if this is healthy, then it is unfortunate because this tax is high

Hello my friend 

Yes, it is true, south Korea will do that soon and yes, crypto coins are not under the ownership of any country but there are some exchange platforms under the ownership of some countries and I think that's how the government will take their tax.

[abdullah553 1981]

Perhaps if this is true, it will be done by Arab governments, especially those that suffer from a decline in their economies, such as Syria, Lebanon and Iraq, in order to compensate the state for its losses, as you know the Arab countries do not like anything more than taxes haha

[Roomi 1119]

The good thing in this news is that whether the tax is implemented but crypto currencies are now being regulated in different countries. Now the adopter numbers are increasing.

[khaler 1549]

24 minutes ago, Moustafa said:

Hello my friend 

Yes, it is true, south Korea will do that soon and yes, crypto coins are not under the ownership of any country but there are some exchange platforms under the ownership of some countries and I think that's how the government will take their tax.

Hello friend, yes you have the right that some platforms are owned by some countries, but there is nothing official yet that they will impose taxes, and you, my friend, do you have someone in Korea confirming this information?

[Moustafa 78]

30 minutes ago, Aghiad1 said:

I do not think that other countries can impose taxes on encryption, as encryption is decentralized and its transactions cannot be tracked ... How will Korea know the person’s property from encryption to impose its taxes ?!

Ok, in my opinion, I think that South Korea government will take their tax from centralized crypto platforms or from crypto ATMs

[Epic 289]

Ultimately thats what all government wants to do. They want crypto trader to pay taxes for the gains they make in trading like everyone else. So i see more governments adapting that method in the future and we would also see the mainstream be more aware of cryptocurrency trading because of it.

[Nakamoto 279]

1 hour ago, Moustafa said:

South Korea imposing a 20% tax on cryptocurrency transactions.
In your opinion why does south Korea do that and how it will effect the South Korean traders? 
And do you think that in the future more countries will do that or not?

20%? That's too much for other income taxes. 10% might still be too big. Has the government turned into a gangster? But that was only a plan.

[tienda 8776]

I think there are many people who want the cryptocurrency will be regularized on their countries like South Korea, but if the cryptocurrency is regularized on South Korea, of course if they impose to pay the tax you need to pay. Because crypto is legal.

[SuperCrypto 7193]

3 hours ago, Moustafa said:

South Korea imposing a 20% tax on cryptocurrency transactions.
In your opinion why does south Korea do that and how it will effect the South Korean traders? 
And do you think that in the future more countries will do that or not?

Some speculated that the government may classify the gains obtained by trading the cryptocurrency as "other income" rather than capital gains. The other income category also includes gains from lectures, lottery purchases, and prizes.

[Jeet Narayan 1940]

Now we are using Crypto and We do not even have to pay tax for this. Bitcoin is legal in South Korea and the person there is using it and that's why the government has imposed tax on them to use it. 

[Wijayafajar06 274]

In my opinion, this possibility will apply in many countries because the government increases its income by taxing Crypto and this will have a negative impact on Crypto.

[Mahadi hassen 50]

I know in a report in the English-language daily Korea Times, that the South Korean government is expecting a 20% income tax on profits from rising cryptocurrency trading. General Chat Chat LoungBecause these coins can greatly improve the lives of people through the price of tea market and serve as income tax for the country

[Sid 589]

In my opinion, there are quite a lot of crypto currency users in South Korea that the number of daily transactions is high and it makes the government feel the need to provide tax. In my opinion the impact of that is that the Government there will most likely be quicker to adopt a crypto currency

[shafi123 187]

I think that south corea taxes on the crypto currencies is the best way because every country implemented the taxes. May be it is due to bit coin high demand in crypto world or cryptocurencymarket

[DavCrypto 298]

14 hours ago, Moustafa said:

South Korea imposing a 20% tax on cryptocurrency transactions.
In your opinion why does south Korea do that and how it will effect the South Korean traders? 
And do you think that in the future more countries will do that or not?

South Korea became clearly in need of taxing cryptocurrency transactions, and this was largely evident when the virtual currency exchange Bithumb Beithamb announced, at the end of last year, that it was studying to prosecute an estimated tax bill of $ 68.9 million.

[Satya31 865]

I support the tax system for the sake of government and country. But the percentage of the tax must be little like 1 or 2 percent or less than that. 20% tax is too much. Their motive may not to control the system and regulate it. The motive must to stop and keep the people away by implementing that much tax. This is very bad. 

[bliznec 22267]

First of all, when exchanging funds, tax is taken into account. You must comply with the rules of the country and pay tax. And how traders will affect this, I think that they will accept it. 

[Great Commander 659]

They're probably doing that for the people for them to have good establishments for health education or public works.