Crypto Money Tax to South Korea. South Korean Finance Minister announced earlier today that cryptocurrencies can be taxed.
Finance Minister Hong Nam-ki made a new statement today about cryptocurrency regulations in the country. The Finance Minister said that the country may be taxed in the near future from cryptocurrency transactions. According to local sources , this process may come into effect from next month.
Finance Minister Hong said he personally supported this new regulation that the government had prepared, which could be beneficial for South Korea. The Minister of Finance said that thanks to this new cryptocurrency tax, it can contribute to the economy of the country, especially from foreign companies. But exactly how this taxation in South Korea will work is still unknown.
Continue Digital Money Studies
While South Korea is trying to regulate the crypto money sector on the one hand, it continues to do research on digital money on the other.
In an article we shared the other day, we talked about a new step taken by South Korea Central Bank regarding digital central bank coins . South Korean officials, especially affected by China’s digital Yuan project, set up a special consultancy office to speed up digital money work.