SMass adoption and regulation is happening and as proof the South Korea moves forward with crypto tax amidst political challenges. Having the legal space to freely trade and get involved in crypto so something everybody should want and build a better financial future. And those understanding this sooner rather than later, will reap the rewards!
The South Korean government gears to move forward with the 20 percent crypto tax on capital gains from Digital assets in 2020, amidst political moves to delay it despite recent political turmoil. Tax authorities will classify new ruling on capital gains from crypto transactions as “miscellaneous incomes.” That said, digital asset holdings should be reported in yearly filings starting May 2023, as they will be subject to the 20 percent tax.
