South Koreans To Pay A Hefty Gift Tax On Crypto Airdrops

South Koreans To Pay A Hefty Gift Tax On Crypto Airdrops

As the use of crypto assets increases, different jurisdictions create laws to govern their applications and controls. Some rules are connected to various aspects, with regulations and taxation taking significant roles. In a global analysis, cryptocurrency taxation is getting the high side. This is because most governments want to reap from the trading and transfers […]


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In South Korea, major financial service and investment firms are preparing to jump into the crypto industry. A report from a local news outlet claims regulations in the country could be about to change following the election of Yun Seok-Yeol as President. Related Reading: South Koreans To Pay A Hefty Gift Tax On Crypto Airdrops […]

Crypto tax can wait, free coins can’t: S. Korea mulls ‘gift tax’ for airdrops

South Korea has postponed its crypto gains tax on multiple occasions due to a lack of investor protection measures and regulatory guidelines. The South Korean Ministry of Strategy and Finance on Monday cleared that virtual asset airdrops, staking rewards and hard forked tokens would be subject to a gift tax under the Inheritance and Gift Tax Act despite the postponement of crypto gains tax to 2025.Cryptocurrencies are officially referred to as part of virtual assets under South Korean law.In response to a tax law inquiry about transfers of virtual asset airdrops by crypto exchanges, the....

Study Finds South Koreans Aged 20-39 Mainly Invest up to $100 in Cryptocurren...

South Korea’s “crypto boom” is a term that the local media has widely adopted to refer to the current hype seen across the Asian nation. In fact, a recent study unveiled a rising trend in the number of South Koreans making small-scale crypto investments. New Crypto Investors Seem Unafraid of Strict Regulations According to the “Virtual Currency App Market Analysis” research made by big data firm IGA Works, quoted by Edaily, almost 60% of the newest crypto investors in the country are aged 20-30. Remarkably, such a segment of traders often prefers to allocate....

Young Koreans Less Keen on Crypto Taxation Than Older Generations, Poll Finds

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Top 5 Crypto Airdrops for May 2021

Airdrops are an interesting occurrence in the cryptocurrency world. It serves as an excellent way to educate newcomers about cryptocurrencies. Additionally, it is a viable way for existing users to diversify their portfolios in a risk-free manner. Why Airdrops Remain Popular Contrary to traditional ways of getting involved with cryptocurrencies, airdrops are a different creature. […]