South Korean authorities plan to introduce a tax on income from cryptocurrency

The South Korean government is considering the introduction of a tax on income from Bitcoin and other cryptocurrencies, reports Finance Magnates .

The country's Minister of Economy and Finance, Hong Nam-Ki, said that a working group consisting of representatives of government departments and private experts was studying the experience of other countries in this direction. The authorities intend to "introduce the correct taxation of virtual currencies," the official added.

According to him, this issue is still at an early stage of discussion. Hong Nam-Ki also noted that the government is considering the idea of ​​taxation from ICO-campaigns, but there is no clear understanding as to how this will happen.

“It is necessary to adhere to a cautious approach to ICO, taking into account the situation in the market, international trends and customer protection problems, ” he said.

Earlier, BlockchainJournal reported that under pressure from the authorities in South Korea, the Zeniex exchange closed .

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