Taxing Crypto Trading Gains ‘Inevitable,’ Says South Korea Finance Minister: Report
Crypto traders’ gains will be subject to 20% tax on profits over 2.5 million won (~$2,250) from January 2022.
South Korea's Ministry of Science and ICT reports there has been a surge in phishing attempts targeting cryptocurrency users.
The Upbit operator plans to set up a unit to help prevent fraud and assist victims of crypto crime, among other things.
The Bank of Korea hopes to start as early as September, an official said.
DCG has become the second-largest shareholder in blockchain company Streami, operator of crypto exchange Gopax.
Kim Byung-wook said he believes the crypto industry is unique and different from traditional finance.