REGULATIONS

South Korea will tax its cryptocurrency exchanges

On January 22, the government of South Korea has officially informed its citizens that it plans to collect corporate tax, which is 22%, according to South Korean law. What is more, the local crypto exchanges will pay 2.2 percent local income tax.

The government announced the changes in the tax law after the news about anti-money laundering probe into six major South Korean banks.

In the official statement of Jeong have reported that the government has created the specialized working group whose task will be processing the offer of the Ministry of Justice supporting a total ban of cryptocurrency trade, and creation of regulatory requirements which will regulate the relations in the market of digital assets.

 

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blockchain, ICO, bitcoin, ethereum, mining

REGULATIONS


South Korea will tax its cryptocurrency exchanges

Published by blockchain, ICO, bitcoin, ethereum, mining