South Korea is Exploring New Crypto Tax Laws
Cointelegraph
Published May 27, 2020 04:30PM ET
Updated May 27, 2020 06:00PM ET
South Korea’s Ministry of Economy and Finance is preparing an amendment to apply to the nation’s Income Tax Law. This could include rules for profitable sales of cryptocurrencies as well as profits from national crypto mining projects.
According to local newspaper E Daily on May 27, the ministry also mentioned including the profits generated by initial coin offerings, or ICOs. This is tantamount to a change in the country’s rhetoric towards ICOs, which are still banned across the country.
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Written By: Cointelegraph
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