South Korea’s finance minister said that cryptocurrencies like Bitcoin will be taxed as “intangible assets.”
Amid the growing opposition against the new cryptocurrency tax regime in South Korea, finance minister Hong Nam-ki confirmed that the government will start taxing capital gains from crypto trading starting next year.“It’s inevitable, we will need to impose taxes on gains from trading of virtual assets,” the minister said when asked whether the tax should be delayed until the state has proper industry oversight in place, Reuters reports Tuesday.Hong emphasized that cryptocurrencies like Bitcoin (BTC) will be taxed as “intangible assets”, noting that it was a “misunderstanding” to view them as currencies. The minister also warned that crypto trading is vulnerable to new forms of illegal fundraising and fraud, calling on investors to stay vigilant when making investment choices.As previously reported
Źródło: https://cointelegraph.com/news/crypto-tax-in-south-korea-is-inevitable-in-2022-says-minister
