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South Korea Announced Taxation of Cryptocurrency Trading


December, 13 2017
watermark Economic news

On Wednesday, South Korea publicized on their government statement that the capital profits from bitcoin trading are to be taxed.

Moreover, a bill will be proposed to ban underage participation in creating accounts on the exchange of virtual coins and screen those eligible to manage an account, as mentioned in the statement.

They said that eligibility requires traders to divulge all bid and offer quotations and to follow protection rules for investors. In the country,  government bills have to be approved by the National Assembly.

Following the statement, they had a sudden policy meeting to further clarify policies on cryptocurrencies.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.