south korea is considering taxing crypto-money gains, while regulators are working to better control this ecosystem.
South Korea announced Wednesday that it could tax capital gains related to crypto-currency trading, while some regulators are concerned about the presence of what they consider to be a speculative bubble. The president of the Australian central bank warned against "speculative euphoria" following the recent rise in the price of digital currencies.
While the Bitcoin futures contracts were launched last Sunday at the Chicago Board Options Exchange, and encrypting currencies are tending to become more democratic among the population, many politicians are taking a close look at them and are considering the regulatory framework they need to impose on this ecosystem.
The Bitcoin, the first crypto-currency in terms of seniority, notoriety and capitalization, passed the $17,000 mark this week, setting a new all-time record. With an increase of more than 1,500% since the beginning of the year, its price has been fuelling fears for several weeks now about the formation of a speculative bubble, some of which could threaten to burst at any time.
The governor of the Australian central bank, Philip Lowe, said Wednesday that the fascination for these digital assets seemed to him to be part of a "speculative euphoria".
This comment comes a few days after his New Zealand counterpart considered the bitcoin as a "classic case" of a speculative bubble, casting doubt on its future.
On Monday, the president of the U. S. Securities and Exchange Commission (SEC) announced that trading in these assets, but also offers to invest in crypto-currency (ICO) could constitute a violation of federal securities law.
On the Asian side, digital currencies seem to be generating strong popularity among the population. Many investors would have left their jobs in order to devote themselves full-time to crypto-money trading. The trend would be particularly pronounced in countries such as Japan and South Korea, which alone account for more than half of the world's trading volume.