South korea imposing taxs on crypto traders !

[Gg233 1061]

TI think they do that to those big traders and just like any other country or any type of trading like forex Canada has also give taxes and also for the legalization of crypto then it need to have a tax.

[Investors Blog 385]

On 1/21/2020 at 2:37 AM, 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?

This is not  first time that a country starting to impose cryptocurrency taxes, But 20% is too much and most probably people results in underground exchange to ensure they can save on paying those 20% hefty taxes.

[dinabolt 514]

I'm not surprise with that news because end 2019 they already agree about taxes but I don't know about percentage. If South Korea success with taxes I hope they cancel to release new coin basic fiat/ currency using blockchain because bitcoin can loss value and market will goes down again, let's pray about this.

[Mifu 5]

This is a bad news for koreans.  As they have to pay 20℅ text for trading 

[Interface User 1070]

I hope the value of fee is low because that is one of the characteristics of crypto currency to have cheap transaction fees. I think the tax is needed to become funds in the Korean citizens

[Sasaki 171]

It's so sad to hear that crypto put a tax on it, ever since cryptocurrency launched in the world it is decentralized and no one control it so if they want to put a tax on it ut needs a lot of study first. 

[Xsimple 441]

To regulate that trading or to give the trader a protection so they will cooperate with the government a because of that government will charge payment just like any trading like forex or stock.

[babaji 1228]

On 1/21/2020 at 12:07 AM, 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% is just too high, but then a country can tax its citizens. The problem is not taxation, the problem how will you implement it. if I intend to be evasive about it, and I hide my transactions details how will you find out. Unless ofcourse you can arm twist the exchanges to give details about its members. 

[Mikeeee 220]

On 1/21/2020 at 2:37 AM, 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?

It wouldn't be affect the traders in Korea because I think that it's better that their government decided to have a tax rather than to banned the cryptocurrency in their country. 

[rianpedia 816]

On 1/21/2020 at 1:50 AM, 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

for that matter I still don't know, who manages it and where it is, let it be sufficient to be made knowledge alone, thank you friend

[Tehniyat 8]

I think imposing tax on bitcoins is not bad. At least, this imposing of tax on bitcoins will be accepted by the countries which do not accept bitcoin and does not allow its citizens to use bitcoin and will help in expansion of the use of bitcoins. 

[Brushless4500KV 4214]

South Korea is still considering taxes and has not implemented this rule yet. They have classified crypto profits as other income. I think this is only possible if users make transactions with official websites which are under the control of government. If someone sends money from his personal wallet to another wallet, no one can track him to impose tax on him. This tax will only include transactions which involve converting cryptocurrency to fiat. If traders choose other trading pairs in which both currencies are crypto, they will pay less for taxes.

[gigabyteRTX 1583]

Well more likely in the future if the countries will adopt and accept cryptocurrency then they will also put taxes in every transaction or in traders and maybe traders and holders will be annoyed as we love cryptocurrency because no one can control it and give taxes to it. And of course, I'm against this if incase my country will also implement putting tax in traders.

[Rifade01 6]

This is very frustrating ow I think all Korean crypto dealers need to pay taxes right now!

[Shakil123 3]

The dealer needs to pay taxes right now! This is very disappointing I think all Korean crypto....

[lgatabcan 6]

[Rstunirk 151]

I think all the countries will fo that soon, and not no more than traductions fees, but in attendance may be taxes on completely crypto currencies assets as it is moreover count up as assets. 

 

[PiroSense 2681]

On 1/21/2020 at 2:37 AM, Moustafa said:

In your opinion why does south Korea do that and how it will effect the South Korean traders? 

It might discourage the crypto-market in South Korea, but implementing effectively to exchanges the need of KYC, which would lessen and possibly solve cases of illegal acts made in the market, such as thefts and stop funding tied to illegal activities.

[Jesoy 1342]

Well if they're just imposing tax but bitcoin is legal then that would be fine. Tax only means that it's now accepted as an earning method or money. That's great if we look at it on its advantage tho.

[Ayush Singh 1175]

We can see it in both the ways also in a positive and negative because imposing a taxation on the cryptocurrencies will also benefit the Government of such countries and it will create a negative impact in the users of cryptocurrencies if the taxation policy is high.

[Mukty112 68]

I am never heard about this but i am also think that was good decision but i think taxes should become like fiat currency not too much.   

[Mohstapha 16]

South Korea forcing a 20% duty on cryptographic money exchanges. 

As you would like to think for what reason does south Korea do that and how it will impact the South Korean dealers? 

Furthermore, do you feel that later on more nations will do that or not?

[Tahmina akter 0]

In my opinion this is very bad news for all traders.  Because they need to pay their taxes.  But there is no alternative to paying tax in our country

[Razan alikac 1899]

I don’t know how taxes were imposed on cryptocurrencies and they are not subject to government control. Perhaps some taxes are better than prohibiting dealing in cryptocurrencies altogether, but it remains a bad thing especially if these taxes are too high.

[hangomao 15]

On 1/20/2020 at 11:37 PM, Moustafa said:

South Korea imposing a 20% tax on crypto currency 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?

this is been too much sad that they have been allowed too much taxes. so i will suggest them to those they should be here for good reasons.