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%)
|CryptoSlate||Jun 23|| 2|
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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The entire crypto market has been able to incur some notable upwards momentum today, and Chainlink appears to be leading the charge.
Ethereum’s landscape has been evolving significantly throughout the past few months.
East Asian nations are forging ahead with their digital currency and blockchain plans, with most being largely lenient towards large-cap digital assets like Bitcoin.
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