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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