RATE Group | Korean Incoming Minister Confirms Crypto Taxation Plans
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Korean Incoming Minister Confirms Crypto Taxation Plans

04 Dec Korean Incoming Minister Confirms Crypto Taxation Plans

Posted at 12:15h in Bitcoin News by

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Korean Incoming Minister Confirms Crypto Taxation Plans

Regulation

South Korea’s incoming finance minister, Hong Nam-ki, has reportedly unveiled his government’s taxation plans for cryptocurrency and initial coin offerings. A task force consisting of experts from government agencies and the private sector will be formed to examine overseas cases to establish domestic cryptocurrency tax rules.

Also read: SEC Fails to Show Court Blockvest Tokens Are Securities

Korean Crypto Taxation Plans

The South Korean government is “planning to tax cryptocurrencies and initial coin offerings [ICOs],” The Korea Times reported on Monday, citing a written statement by the country’s incoming finance minister, Hong Nam-ki.

Korean Incoming Finance Minister Confirms Cryptocurrency Taxation Plans
Hong Nam-ki at his confirmation hearing on Tuesday.

President Moon Jae-in nominated Hong last month to…

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