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[LutherKing]

After majority of opposition politician voting against the de facto done bill to put 20% tax on people net worth $2100 worth at least now rejected

People can now freely trade crypto until 2023 till the government lasts

The tax system will be redefined
Strong support for crypto shown by politicians

Share your thoughts ...

 

[AudraMiller]

This is a very good development for those that are within that region and it is good to see that they have this as well because it si a way that they can try and promote the adoption and the interest in cryptocurrency within this country as well. They certainly do have the technological advancements in order to work it into their country and their financial systems.

 

[Mariappa45]

This will promote more adoption of cryptocurrency in south Korean country. Because the demand for tax earlier by the government isn't an encouraging one. Cryptocurrency comes with risk of it's own, trading cryptocurrency without such tax demands makes the traders trade freely without debt in their minds.

 

[Wisdom01]

This is a very good development , I think the south African government actually should not charge that rate as it would discourage investors,am glad the bill was rejected ,I just hope more good news on the development and growth of cryptocurrency takes place ,most especially that could increase the use and existence of it in different possible ways and medium too I think

 

[Chibson]

This is a welcome development coming from South Korea. making crypto trading tax free will definitely give cryptocurrency traders more money in the region as the case may be. some Asian countries are definitely adopt a very fast to the usage of cryptocurrency and making money from it.

 

[AudraMiller]

This will promote more adoption of cryptocurrency in south Korean country. Because the demand for tax earlier by the government isn't an encouraging one. Cryptocurrency comes with risk of it's own, trading cryptocurrency without such tax demands makes the traders trade freely without debt in their minds.

I agree with you and i think that this will also show as well that the government is rather looking to adopt the technology into the country and that is why they are promoting it, rather than this just being some sort of money making scheme that they are trying to benefit from and this will allow people to be much more confident when they take that step into the cryptocurrency world.

 

[Mariappa45]

I agree with you and i think that this will also show as well that the government is rather looking to adopt the technology into the country and that is why they are promoting it, rather than this just being some sort of money making scheme that they are trying to benefit from and this will allow people to be much more confident when they take that step into the cryptocurrency world.

The government are always finding ways to make money even from the small citizens of the country. They should simply encourage the youths to carry on with trading, which has reduced the high level of unemployment in the country of South Korea also. Charging crypto traders to me is say too bizarre.

 

[Balint098]

That is a good news, South Korea is an expensive place to live, so any tax break like this is hugely beneficial for traders and long term investors from that country. Seems there are a decent amount of crypto supporters in South Korea too, that is good.

 

[AudraMiller]

The government are always finding ways to make money even from the small citizens of the country. They should simply encourage the youths to carry on with trading, which has reduced the high level of unemployment in the country of South Korea also. Charging crypto traders to me is say too bizarre.

That is true and it will allow people to be able to have a sort of income from anywhere that they are , which is very important and it has become very lucrative as well because many people have had to work from home during the pandemic and this sort of cryptocurrency ventures has really helped those people.

 

[Mariappa45]

That is true and it will allow people to be able to have a sort of income from anywhere that they are , which is very important and it has become very lucrative as well because many people have had to work from home during the pandemic and this sort of cryptocurrency ventures has really helped those people.

Sure, which shows that cryptocurrency is a revelation. Who thought that time like this crypto will make up and reduce the stress for use which the local banks can't do? I simply stay in my room and conduct all sort of transaction within some minutes and it goes to the right destination.b

 

[AudraMiller]

Sure, which shows that cryptocurrency is a revelation. Who thought that time like this crypto will make up and reduce the stress for use which the local banks can't do? I simply stay in my room and conduct all sort of transaction within some minutes and it goes to the right destination.b

That is the great thing about cryptocurrency and also it cannot be intercepted as well which is a very good thing because your transaction will go to the wallet that youa re sending it to. The banks have had concerns with hacking in the recent years, whcih makes their transaction uncertain as well.

 

[Mariappa45]

That is the great thing about cryptocurrency and also it cannot be intercepted as well which is a very good thing because your transaction will go to the wallet that youa re sending it to. The banks have had concerns with hacking in the recent years, whcih makes their transaction uncertain as well.

Cryptocurrency is swift, and at ease, not like banking system here in my country that comes with delay due to connection issues. Their is no banking or payment system without deformity, even local banks experience it also. Hacking is general, we have thieves that targets offline banking.

 

[gammarays]

I get to see why most people falsely declare their assets or evade tax for some reasons. Others do add up many imaginary expenses to reduce their profit figure. Placing a 20% tax rate on low income earners is not a good thing to do. Low income earners have a lot of expenses to do. They should be exempted from paying tax or their rate reduced to the minimum.

 

[Ben Kempton]

This is a very good development , I think the south African government actually should not charge that rate as it would discourage investors,am glad the bill was rejected ,I just hope more good news on the development and growth of cryptocurrency takes place ,most especially that could increase the use and existence of it in different possible ways and medium too I think

The country in question was South Korea, not South Africa. According to some latest news, the country will no longer impose some amount of tax till the year 2023. Some new sources have suggested that the country shall start imposing tax in the year 2025. I think that they have extended the date and this could be good for many cryptocurrency dealers.

 

[BullyMaguire]

It's good that South korea is really doing what they should like they aren't rushing things just for the sake of taking big taxes from their people. Good to see that they rejected the first bill they come up with. Crypto currency is really big in south korea so im sure they will be much fairer than other countries tax on crypto currency

 

[Ben Kempton]

It's good that South korea is really doing what they should like they aren't rushing things just for the sake of taking big taxes from their people. Good to see that they rejected the first bill they come up with. Crypto currency is really big in south korea so im sure they will be much fairer than other countries tax on crypto currency

They might have not been implementing heavy taxes right now. But I think that it all depends on the world economical conditions such as overall inflation rate in the world. If inflation increases by the passage of time, then the government might be induced to increase the taxation percentage.