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....
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Samsung Securities, Mirae Asset Securities and Shinhan Financial Investment are among the financial heavyweights in talks with the government to create the exchange. Samsung Securities is among seven large South Korean securities companies that have applied for government approval to create a virtual assets exchange, according to a report in South Korean publication Newspim. The companies aim to create a corporation to open an exchange in the first half of next year. Newspim quoted an unidentified executive as saying that discussions on the project are now being finalized.According to the....
Crypto airdrops are a marketing strategy used by startups to give tokens to existing cryptocurrency traders for free or in exchange for minimal promotional work. For most crypto investors, there is nothing more important than making a return on their investment. Thanks to the volatility, this can be done quickly or it can be a hugely difficult task. That's why crypto airdrops are an inexpensive way to make additional returns on your portfolio. After all, airdrop tokens are free and never hurt, right?Almost daily there are new crypto airdrops, with some easier to obtain than others. Not....
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. […]
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 […]
In the world of cryptocurrencies, decentralized finance (defi), and Web3, airdrops have become commonplace in the industry. However, while airdrops sound like free money, there’s been a growing trend of airdrop phishing scams that steal people’s money when they attempt to get the so-called ‘free’ crypto assets. The following is a look at two different ways attackers use airdrop phishing scams to steal funds and how you can protect yourself. Airdrops Don’t Always Mean ‘Free Crypto’ — Many Airdrop Giveaway Promotions Are Looking to Rob....