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[Reporter s Notebook] FSC head under fire for controversial comment on cryptocurrency

[Reporter s Notebook] FSC head under fire for controversial comment on cryptocurrency Posted : 2021-04-25 17:01 Updated : 2021-04-25 17:08 Financial Services Commission (FSC) Chairman Eun Sung-soo, right, speaks during a parliamentary committee meeting at the National Assembly in Seoul, last Thursday. Yonhap By Anna J. Park Financial Services Commission (FSC) Chairman Eun Sung-soo s recent comments on the cryptocurrency investment frenzy not only triggered a backlash from investors, but also stupefied those who expected a more insightful perspective on cyber money from the chief financial regulator. I don t think it is the right path to jump on the bandwagon of recklessly buying a digital asset that s fluctuating more than 20 percent a day. If the young generation takes the wrong path, it is elders obligation to correct them and tell them it is wrong, FSC head Eun said during a parliamentary committee meeting held last Thursday.

Korea faces dilemma over cryptocurrency taxation

Korea faces dilemma over cryptocurrency taxation Posted : 2021-04-23 10:10 Updated : 2021-04-23 10:10 This file photo taken on June 17, 2014, in Washington, DC, shows bitcoin medals which use peer-to-peer technology to operate with no central authority or banks. Korea s financial authorities are moving to impose an income tax on cryptocurrency trading from next year. AFP South Korea s financial authorities are moving to impose an income tax on cryptocurrency trading from next year, but investors in digital tokens have raised a nagging question about the proposed taxation. A growing number of cryptocurrency investors have cried foul over whether the government will collect a tax on virtual currencies while top policymakers see no intrinsic value in crypto assets amid a lack of regulations to protect cryptocurrency investors.

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