Arabic AR Chinese (Simplified) ZH-CN English EN French FR German DE Japanese JA Portuguese PT Russian RU Spanish ES Turkish TR
Connect with us

Hi, what are you looking for?

Technology

Crypto tax planned in south korea may be delayed

The South Korean National Assembly Research Service said in a report released on Thursday that a 20% tax on cryptocurrency gains set for 2023 must maintain a 2.5 million won ($1,940) threshold, contradicting new President Yoon Suk-yeol’s initiative to raise the limit to 50 million won, Forkast said.

Raising the tax threshold for crypto gains to 50 million won to match that of stock gains was a promise Yoon made to voters while running for office, Forkast noted.

The Block reported upon Yoon’s election in March that among the specific measures he had proposed was easing tax requirements on crypto investment profits, citing Yonhap News. 

The Assembly’s report also said that the crypto tax start date of January 1, 2023, should not be delayed to 2025 as the nation’s deputy prime and finance minister nominee Choo Kyung-ho had suggested earlier this month.

Featured

Bitcoin Mining

Despite a $72 million rescue offer from creditors, concerns have been raised about the general viability of the Bitcoin trading community amid a protracted...

Altcoin

Ripple is attempting an upside break above the $0.365 resistance zone against the US Dollar. XRP price could fail to gain pace if it...

Bitcoin

Bitcoin price is facing resistance near $17,000. BTC could start another decline unless there is a strong move above the $17,000 resistance zone. Bitcoin...

Ethereum

Ethereum started a fresh decline from the $1,320 resistance against the US Dollar. ETH is struggling and remains at a risk of a move...