03 Dec '17, 4pm

South Korea Is Investigating Methods to Tax Bitcoin Users

South Korea Is Investigating Methods to Tax Bitcoin Users

Kim Dong-yeon, South Korea’s deputy prime minister and the minister of strategy and finance, revealed earlier this week that the government is investigating various methods to better regulate the local Bitcoin market and tax Bitcoin users accordingly. While the South Korean government and its local financial authorities are actively discussing the possibility of enforcing a policy on Bitcoin taxation , at a press conference, Deputy Prime Minister Kim stated that the government does not intend to include any Bitcoin taxation policy in 2018’s amendment of the tax law. South Korea likely to follow Japan’s taxation policy Since the beginning of this year, the South Korean government has introduced light regulatory frameworks for Bitcoin businesses and investors that are structurally similar to that of the policies imposed by the Japanese government and the Japan Financial Serv...

Full article: https://cointelegraph.com/news/south-korea-is-investigati...

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