South Korea: Economists say taxing Bitcoin is a “premature” decision; here’s why

BTC $9650 (+1%) • ETH $244 (+0.9%) • XRP $0.19 (-0.1%)

South Korean economists aren’t happy with the government’s proposal to tax Bitcoin and other cryptocurrencies, days after reports suggested the latter.

Any “cryptocurrency tax” must be abolished and not implemented, the country’s academics told local reporters over the weekend.

The reason was singular and simple — taxes on an emerging asset class and disruptive technology sector may block broader industrial growth in the country; one that suffers from an ongoing employment crisis.

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