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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

South Korea Announced Taxation of Cryptocurrency Trading

December, 13 2017
watermark Economic news

On Wednesday, South Korea publicized on their government statement that the capital profits from bitcoin trading are to be taxed.

Moreover, a bill will be proposed to ban underage participation in creating accounts on the exchange of virtual coins and screen those eligible to manage an account, as mentioned in the statement.

They said that eligibility requires traders to divulge all bid and offer quotations and to follow protection rules for investors. In the country,  government bills have to be approved by the National Assembly.

Following the statement, they had a sudden policy meeting to further clarify policies on cryptocurrencies.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.