On a global scale crypto- The process of regulating currencies continues and the priority issue is taxation. The US IRS has been taking steps on this issue for a long time, and we have witnessed many countries taking steps to clarify the taxation issue. The country that has recently come to the fore with its cryptocurrency tax is South Korea. Alright cryptocurrency tax What are the latest developments on the subject?
Cryptocurrency Tax Postponed
Last statement for Türkiye tax It was stated that the regulation would not come in 2024 and the authorities announced that they had given up on taxing the stock market and cryptocurrencies. However, taxation of cryptocurrencies in South Korea would begin next year. As we previously announced here, a 20% tax was targeted on cryptocurrency earnings.
The tax, which was to come into effect for the first time on January 1, 2022, was postponed to January 1, 2025 with the strong reaction of cryptocurrency investors in the country and the support of the opposition. Now, the South Korean National Assembly has approved the postponement of cryptocurrency taxation until 2027.
We have seen the power of cryptocurrencies on politics in the last US elections. For this reason, policy makers are now taking the huge cryptocurrency investor community seriously and competing to take steps to win their hearts.
BTC price It rose slightly following the announcement to $97,450.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
