South Korea pushes ambitious crypto tax to 2023
Authorities in South Korea have agreed to shift the date for the implementation of the crypto tax law to 2023.
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Authorities in South Korea have agreed to shift the date for the implementation of the crypto tax law to 2023.
Oluwapelumi Adejumo 2 min read
South Korea will be following FATF's advice on NFT regulation-related matters.
South Korea is undecided on how it should tax gains made from NFTs
Out of the 66 crypto exchanges operating previously in Korea, only 29 of them met the authorities new regulations.
Crypto exchanges operating in South Korea are running a race against time as their registration deadline approaches.
The country's ruling party is fighting a battle with the Ministry of Finance over the implementation of a new crypto tax law.
South Korean operators are facing mass shutdown as the September 24 deadline for foreign and local crypto exchanges to register with the authorities approaches.
A total of 33 residents of South Korea are facing charges or fines for crypto transfers that violated the Foreign Exchange Transaction Act.
The country is coming down hard on crypto companies and is ensuring local players are well-regulated.