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HomeNewsSouth Korean Crypto Tax ‘Coming Next Year for Traders, Miners & ICOs’

South Korean Crypto Tax ‘Coming Next Year for Traders, Miners & ICOs’

South Korean ministries have pledged to impose tax on cryptocurrency trading and crypto mining “from next year.”

Per reports from E Daily and Decenter, the Ministry of Economy and Finance is preparing to make an amendment to the existing Income Tax Act that will include clauses about taxing profitable cryptocurrency sales, as well as the profits of crypto mining projects. The ministry also spoke about taxing the proceeds of initial coin offerings (ICOs) – perhaps a slightly puzzling statement for some, as ICOs remained banned in the country.

The media outlets quote an official from the ministry as saying,

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