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South Korea Plans to Amend Their Current Crypto Regulation

The South Korea Ministry of Economy and Finance confirmed that the Profits from individual virtual asset transactions are not a listed income. Furthermore, they are not taxable under the current tax law. 

South Korean Government is keen to study the crypto regulation approaches of major countries of crypto taxation. An official of the ministry said that discussions have already been taking place, adding that the revised bill is expected to be drawn up by the first half of 2020. The major setback of tax amends is acquiring transaction records from crypto exchange to levy exact taxes.

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Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

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