CoinMarketCap: Read what our contributors have to say. This content is provided by the community. DYOR!
South Korea Debates Raising Crypto Tax Exemption to $35,900
Market Musing-g

South Korea Debates Raising Crypto Tax Exemption to $35,900

Coin Edition
By Coin Edition
4 months ago
2 mins read
South Korea Debates Raising Crypto Tax Exemption to $35,900
  • South Korea’s DPK has proposed raising crypto tax exemption levels.
  • The opposition party proposed raising the exemption to $35,900.
  • Currently, the crypto tax exemptions stand at a mere $1,795.

In South Korea, a significant development is brewing as the opposition Democratic Party of Korea (DPK) proposes raising the crypto tax exemption to 50 million won (approximately $35,900). The move can help bring additional capital in the local digital asset market as sound regulations gradually take shape in the country.

According to a report from local media outlet Seoul Shinmun, the National Assembly’s Strategy and Finance Committee will discuss the DPK’s proposal on November 26th to reach a decision. This follows the DPK’s recent disapproval of the government’s decision to delay the planned crypto taxation framework until 2027.

Read also: South Korea’s Crypto Tax Decision Postponed, Uncertainty Looms

The ruling People Power Party (PPP) recently stated that it is considering implementing crypto tax policies in 2027. The party wants to postpone taxing cryptocurrencies to allow the market to mature and give authorities time to establish a comprehensive regulat…

16 views
0 likes
|

Other articles published on Nov 20, 2024

Market Musing-g

Shiba Inu whale holds 10% of SHIB supply, up 250,000x to $2.5B

The mysterious investor made an over 250,000-fold return on his initial investment of just $10,000, which is worth over $2.5 billion today.
By Cointelegraph
4 months ago
4 mins read
Market Musing-g

SOL Global Investments Corp Purchases Solana Tokens

Canadian investment firm SOL Global Investments Corp has announced its intent to acquire additional Solana tokens, amounting to 3.6 million CAD. This strategic acquisition aims to leverage the prom...
By BH NEWS
4 months ago
2 mins read
Market Musing-g

BlackRock’s Tokenized Fund BUIDL Now Available on Aptos, Arbitrum, and More Blockchains

BUIDL, primarily backed by U.S. government bonds, offers a stable, low-risk asset pegged at $1 with daily dividends.
By BSCN
4 months ago
3 mins read
Market Musing-g

Will Trump or Harris Propel BTC to New Heights?

Weighing the possibilities of bitcoin's price direction with the outcomes of trump or harris win
By BSCN
4 months ago
4 mins read
Market Musing-g

Juicy: Avalanche’s OF Competitor with New Content Monetization

This platform allows creators to monetize their work through subscriptions, so they can earn money directly from their fans. At the time of writing, JUICY, Enjoy Juicy’s native token, has a $1.8 mi...
By Altcoin Buzz
4 months ago
4 mins read
Market Musing-g

Binance Announces Delisting of Six Crypto Pairs: How Are Prices Reacting?

Crypto exchange giant Binance has stirred the market with its latest announcement to delist certain BTC trading pairs, causing a ripple effect in the crypto landscape. This decision, which affects ...
By The Bit Journal
4 months ago
3 mins read

Join the thousands already learning crypto!

Join our free newsletter for daily crypto updates!