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[AudraMiller]

With more and more countries now slowly becoming open to the possibility of investing in crypto and benefiting through it through the introduction of tax laws, there is a certain degree of regulation that will come with these developments. In fact in a recent published article, it seems that korean actually wants to monitor crypto trades, with users using their real name bank accounts. This will allow them to see the value of trades being made and to manage the risk accordingly. what are your thoughts on this development?

 

[LutherKing]

it was on the cards , korea has a big share in crypto markets and it certainly influences the price of bitcoin and this decision will make the users wary and more cautious of how they are dealing and maybe they use new tactics to hide their coins and cryptocurrency

 

[SCAMEXPOSER]

It is a wonderful move by the government because if the trend continues I doubt if there will be any sector with huge market capitalization like cryptocurrencies market.

 

[Brain]

If this isn't about witch-hunting then I see no issues here. When once it is about security then it is all good by me. So it never any issue with me at all.

 

[Wisdom01]

i think the motive is actually for the introduction of taxes on cryptocurrency , but after monitoring it they should actually not introduce huge tax into cryptocurrency , hope they put different structures and not introduce high taxes

 

[fiery phoenix]

I think this is what other securities authorities need to establish in their countries to regulate crypto trading and minimize manipulation by the whales.Pump and dump schemes will also be eliminated from these markets and the perpetrators arrested because they will be able to identify the pumpers and dumpers easily with this method

 

[Wisdom01]

I think this is what other securities authorities need to establish in their countries to regulate crypto trading and minimize manipulation by the whales.Pump and dump schemes will also be eliminated from these markets and the perpetrators arrested because they will be able to identify the pumpers and dumpers easily with this method

the only thing is that it would be difficult to control the manipulation from whales , assuming the crypto currency was actually made and used only in the country ,then the government could do so ,but since cryptocurrency is actually a general investment ,the government can't control manipulation from whales

 

[BullyMaguire]

Just because they do doesn't mean they don't like it.. it's just that many illegal activities will sprout with more people using crypto currency. Im okay with that . I think every country that allows people to trade crypto currency should do this.. for security reasons aswell.. if u don't do anything bad no reason to be scaret

 

[Ben Kempton]

i think the motive is actually for the introduction of taxes on cryptocurrency , but after monitoring it they should actually not introduce huge tax into cryptocurrency , hope they put different structures and not introduce high taxes

Yes, the primary goal of Korean Banks is to monitor the trade for various reasons. They probably would also want to stop money laundering and illegal circulation of funds in order to stop crime. Tax invasion is also a crime and this is why they are focusing to trace down cryptocurrency investors who are holding big amount o coins.

 

[Wisdom01]

Yes, the primary goal of Korean Banks is to monitor the trade for various reasons. They probably would also want to stop money laundering and illegal circulation of funds in order to stop crime. Tax invasion is also a crime and this is why they are focusing to trace down cryptocurrency investors who are holding big amount o coins.

I think most big investor's uses cryptocurrency to evade taxes and this is probably the reason why the government are trying to monitor trades ,I think their method of taxation should be progressive and not taxing the rich the same amount they charge the poor

 

[Ben Kempton]

I think most big investor's uses cryptocurrency to evade taxes and this is probably the reason why the government are trying to monitor trades ,I think their method of taxation should be progressive and not taxing the rich the same amount they charge the poor

The matter of taxation related to Bitcoin is quite controversial. Many people believe that cryptocurrency holders should be taxed because they are assets in the form of digital currencies. However, some people believe that these coins should not be taxed because they are decentralised assets that are not technically owned by the government. This is why the government does not deserve to tax it.

 

[Wisdom01]

The matter of taxation related to Bitcoin is quite controversial. Many people believe that cryptocurrency holders should be taxed because they are assets in the form of digital currencies. However, some people believe that these coins should not be taxed because they are decentralised assets that are not technically owned by the government. This is why the government does not deserve to tax it.

the government deserves to tax it , because many people are no longer investing that much on physical asset but digital asset to evade tax , and developed countries needs taxes to continue their growth ratio and provide better amenities for the citizens , this made the government still tax cryptocurrency users

 

[Horia_10]

The government takes taxes on all things since the Korean low does not allow the authorities to collect and taken taxes on amounts equal to $2100 , So the small ones users are not much affected and it is the rich that pay taxes there which is good as it helps the economy and makes it strong for all the people alike .

 

[Wisdom01]

The government takes taxes on all things since the Korean low does not allow the authorities to collect and taken taxes on amounts equal to $2100 , So the small ones users are not much affected and it is the rich that pay taxes there which is good as it helps the economy and makes it strong for all the people alike .

I think that's actually a progressive tax rate for me , because when the rich pays the higher tax ,there is actually a balance ,atleast the taxes should be paid according to the income that the person is earning through cryptocurrency and others ,it would encourage small Investors to key into cryptocurrency in the country