CandleFocus South Korea Debates Crypto Tax Bill Today: What to Know
2024-11-25
Author: Content Editor
The National Assembly of South Korea will discuss a proposed crypto taxation bill today, aiming to tax investors with gains exceeding a specified threshold. The original threshold caused concerns, but the updated proposal raises the tax-free limit to 50 million won and sets a 20% tax rate on gains beyond this amount. The bill is expected to be implemented in January 2025. While the ruling party leader emphasizes the need to address young investors' concerns and improve tax infrastructure, the policy aims to benefit small investors and simplify compliance.
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