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07 March 2021

South Korea fastracks 20% tax on Bitcoin and crypto profits to 2022

South Korea fastracks 20% tax on Bitcoin and crypto profits to 2022


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South Korea will implement a 20% tax on Bitcoin (BTC) and cryptocurrency profits starting Jan.

The nation’s Ministry of Economy and Finance announced that profits made from both trading and holding cryptocurrencies will be subject to the tax, reported the Korean Herald on Monday.

The tax will be triggered when profits made from cryptocurrencies exceed 2.5 million won, or roughly $2,300.

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cointelegraph.com
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