South Korea to Start Taxing Bitcoin Profits in 2021

Bitcoin.com | May 29, 2020 at 4:44 PM
  • South Korea will start taxing profits from bitcoin (BTC) and other cryptocurrencies next year.
  • South Korea’s Ministry of Economy and Finance proposed the amendments to the existing tax law to include the cryptocurrency industry.
  • Once approved, the law will enter into force in 2021, allowing authorities to tax profits generated from the sale of digital assets for cash.