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South Korea isn't going to implement tax on cryptos

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Well now taxes on cryptocurrencies have been a big thing among all the countries. 

Thailand has also made taxes upon cryptocurrencies as well as United states. 

It has been stated in in Korean newspaper Chosun Ilbo, that a minister told this : "We have already decided to tax profits from investments in cryptocurrency. The question is only how much time we should give investors and when to start implementing it."

The article goes on to say that the government will allow up to a 2- year grace period before the tax code will come into effect.

Well now it has been confirmed that this is fake and will not be applied. 

The ministry of finance is now denying the legitimacy of this report, stating that it “is different from the fact.”

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Cryptocurrency is super popular nowadays, and many people find it as a very appealing investment source. Of course, since no one is paying any taxes there, it's not very convenient for any state. However, I don't see the problem of implementing a tiny tax that won't affect anyone significantly. Of course, if these taxes come with any benefits, I don't think anyone will disagree with it, mainly because there are many pay stub makers on the internet (https://www.paystubcreator.net/). But, if these will be just taxes without any logic, then nobody will be happy about these kinds of changes.

Edited by Protea

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