South Korea working on tax on cryptocurrencies and ICOs. Revision in sight for the local tax system.
As suggested by the Korea Times, the South Korean government is planning to tax la criptovaluta and initial money offers (ICO). The tax method for virtual currencies will be developed in line with the tax infrastructure and the progress made by global stakeholders, not before - in any case - that a task force consisting of experts from the competent government agencies, including the National Tax Service and the private sector, to examine international examples and fine-tune the tax plan.
With the current ICO ban in South Korea, it appears that the government has reached a definitive position on the initial offers, after carefully studying various factors such as market conditions, investor protection and global trends.
However, as it is happening in other parts of the world, the closure towards ICOs certainly does not correspond to a closure towards the block chain technology, or blockchain, towards which the government seems to be very inclined.
On this occasion, we recall how the South Korean market is receiving an influx of cryptocurrency exchange from China, with Binance, OkEx and Huobi, which have already penetrated the national ecosystem.
In particular, OKEx recently announced its entry into the South Korean market and Huobi initially stated that it would allow traders to use the Korean currency to exchange cryptocurrency. Binance has made progress in establishing itself within the South Korean community.
