Gov’t Seeks to Tax Crypto Transactions as Capital Gains By Cointelegraph

South Korea: Gov’t Seeks to Tax Crypto Transactions as Capital Gains

The South Korean government plans to tax capital gains on cryptocurrency transactions. A Dec. 9 report from The Korea Times reveals that a revised bill to introduce the measure will be drawn up by the country’s Ministry of Economy and Finance by the first half of 2020.

In parallel, the Korean National Assembly is in the process of advancing a related bill aimed at increasing transparency in cryptocurrency trading. If passed, the new regulations would come into effect one year after the Assembly’s plenary session.

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