South Korea wants to tax BTC gains, what will the premiums do?
Dear Steemians,
I came across an interesting article (Investopedia) about the premium in South Korea. Now that South Korea wants to implement taxes on gains it will be interesting to see if the premium holds on.
Why South Korean Bitcoin Price Is $1,000 Over Global Price By Nathan Reiff |
While interest in Bitcoin is exploding all around the globe, the jump seems to have been particularly strong in South Korea. Bitcoin has become incredibly popular in the country, with trade volumes going through the roof in recent months. This has prompted the three largest exchanges in South Korea to see nearly a quarter of a billion dollars in trade volume daily. More importantly for traders around the world, though, is the fact that along with the major trade volume has also come a significant Bitcoin price bump in those exchanges.
Read more: https://www.investopedia.com/news/why-south-korean-bitcoin-price-1000-over-global-price/
Still a low of negative news.
Again big news from SK. They want to regulate exchanges. This is part of the pressure on the prices.
Do they want to pass a special tax just for bitcoin transactions? That would be very stupid and unproductive. I guess the legacy financial institutions are worried that volume will go to bitcoin and not into they BS products.
I don't know that.
Regulation will continue next year. Not only in Asia, bu I guess also in NA.
Kind of true.
SK will also disable trading for foreigners.
YES! The Americans First Tax Reduction Plan has passed! Now the first 12 grand of Bitcoin you cash out, will be exempt from Capital gains! Woo hoo!
Haha what a funny gif!