Korean Crypto Taxation Plans Trueflip casino

Korean Crypto Taxation Plans

The South Korean government is”planning to tax cryptocurrencies and initial coin offerings [ICOs],” The Korea Times reported on Monday, citing a written statement by the country’s incoming finance minister, Hong Nam-ki.

Hong Nam-ki in his confirmation hearing on Tuesday.

President Moon Jae-in nominated Hong month to replace Kim Dong-yeon as the finance minister of the country. He has been serving under the prime minister’s office. “Hong must go through a parliamentary confirmation hearing, even though his nomination is not subject to approval by lawmakers,” Yonhap News Agency explained. “In South Korea, Prime Minister is the only cabinet post which requires a vote by legislators.”

On Sunday, Hong submitted written replies to questions asked by an opposition lawmaker about his tax policies to the National Assembly and best bitcoin casino program . They had been the publication noted.

“The taxation program would be finalized in accordance with the creation and improvement of the taxation infrastructure and the tendency on international discussions,” Hong was quoted by The Korea Times as saying. He added:

A task force consisting of specialists from relevant government agencies such as the private sector and the National Tax Service will be formed to analyze overseas cases and hammer the tax plan outbitcoin casino software prices online casino that use bitcoin >New Finance Minister’s View on Crypto

The South Korean incoming finance minister wrote that”Cryptocurrencies are a new phenomenon and so there’s no internationally agreed regulatory framework.” He then acknowledged that”there are such lingering problems like the market overheating and investor protection. Therefore, we will need to be cautious in building the regulatory framework.”

Regarding ICOs, he reiterated that they are currently banned domestically. Nonetheless, he noted that the government would carefully consider them”after watching market conditions, global trends and investor protection issues,” elaborating:

We’ll determine our policy orientations on ICOs with agencies after getting feedback and reviewing the results of the market survey of the financial regulator.

Furthermore, Hong justified the government’s decision to exclude crypto exchanges from the category of startup businessesbenefits they enjoy. He considers that”the exclusion reflected the criticism that crypto exchanges were exposed to prohibited acts and were merely a brokerage service separate from blockchain technology,” The Korea Times conveyed.

What do you think of South Korea’s crypto taxation plans? Let us know in the comments section below.

Images courtesy of Shutterstock and Yonhap News Agency.

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Source: bitcoincasinoreview.net

Category : News

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