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Stocks investors would only pay taxes for gains over KRW 50 million (US$42,450), whereas crypto investors would have to start paying when they reach $2,122 in capital gains, Kim said. In addition, investors could carry over stock losses for five years but could not carry over crypto losses at all.
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In what could be a big win for the local crypto industry, South Korean lawmakers are close to delaying taxation on digital assets for another year. Representatives from the Tax Subcommittee in the National Assembly, South Korea’s legislative body, reached a bipartisan agreement on Nov. 29 by approving an amendment that
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About 8.3% of polled South African internet users own NFTs while a further 9.4% said they plan to acquire such tokens in the future, a study has found. Twelfth-Highest NFT Adoption Rate According to the findings of the latest Finder online survey, about 8.3% of the 1,205 South African internet users
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South Park’s recent episode called the “Post COVID” special mocks a future where the only currency accepted is bitcoin and other cryptocurrencies. The hour-long animated sitcom picks up years into the future where the main characters are now all grown up, except Kenny McCormick who is dead. Stan Pays for a
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South Korea’s Financial Services Commission (FSC) has issued a report outlining its new definition of cryptocurrencies, along with proposed procedures for token issuers and punishments for non-compliance.The mooted rules could impose onerous regulations on individuals or platforms that mint non-art NFT’s intended for trading, as well as decentralized finance projects
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South Park, the animated TV series that often tackles topical issues with a comedic twist, showed Bitcoin being used as a mainstream means of payment in the not too distant future.In the “Post COVID” episode of its 24th season which aired Thursday, South Park depicted one of the show’s protagonists,
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Gamevil, the South Korean mobile game software developer, has acquired blockchain technology company Zenaad with plans to grow as a platform for blockchain-based games. Fast facts Gamevil revealed yesterday that it has entered the final stage of constructing its blockchain ecosystem with the acquisition of Zenaad. The tech force at Zenaad has
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Crypto mining company Xive shut down a 2,500 rig mine in South Kazakhstan due to lack of sufficient electricity supply from the national grid, co-founder Didar Bekbau told CoinDesk on Wednesday.Kazakhstan has been grappling with electricity shortages, partly caused by an influx of crypto miners from China. The southern part
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South Korean government officials have created confusion this year with conflicting announcements regarding a possible repeal or amendment of the upcoming crypto tax set to come into effect in 2022.Throughout 2021, debate has increased in intensity in the National Assembly, South Korea’s legislature, about whether, or how, to amend the
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South Korea’s Financial Services Commission, or FSC, announced Tuesday that nonfungible tokens, or NFTs, will be taxed starting next year. According to The Korea Herald, this tax law amendment would impose a 20% tax on income from virtual assets that exceed 2.5 million won ($2,102) as of Jan. 1, 2022. The
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