South Korea fastracks 20% tax on Bitcoin and crypto profits to 2022
After much back and forth, South Korea appears to have finally set a hard date for the dawn of cryptocurrency taxation. South Korea will implement a 20% tax on Bitcoin (BTC) and cryptocurrency profits starting Jan. 1, 2022. The nation’s Ministry of Economy and Finance announced that profits made from both trading and holding cryptocurrencies will be subject to the tax, reported the Korean Herald on Monday.The tax will be triggered when profits made from cryptocurrencies exceed 2.5 million won, or roughly $2,300. Gains made up to this point will be tax-exempt. South Korea previously aimed....
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