{"id":317,"date":"2013-11-27T13:12:00","date_gmt":"2013-11-27T13:12:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/korea-announces-favorable-tax-policy\/"},"modified":"2023-01-10T01:39:00","modified_gmt":"2023-01-09T23:39:00","slug":"korea-announces-favorable-tax-policy","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2013\/11\/korea-announces-favorable-tax-policy.html","title":{"rendered":"Korea announces favorable tax policy for Bitcoin"},"content":{"rendered":"<p>The bitcoin community in Korea is small, but growing, and it seems that governments around the world are taking the US Senate\u2019s recent hearings as a signal to begin determining at least temporary policies regarding our favorite cryptocurrency.<\/p>\n<p>Posted in Korea\u2019s Bitcoin Community on Facebook is a statement from Korea\u2019s National Tax Service stating that Koreans will not be taxed for capital gains on bitcoin for the time being.<\/p>\n<p>While this is clearly good news for the few long-time miners in Korea as well as speculators that have experienced a windfall in the past month, it is important to remember that this is not a good long-term position toward bitcoin. Essentially, the Korean government is taking the stance that bitcoin investments are not real.<\/p>\n<div class=\"separator\" style=\"clear: both; text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-4213\" src=\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2013\/11\/bitcoin-exchange-map-1.png\" alt=\"bitcoin exchange map\" width=\"740\" height=\"388\" \/><\/div>\n<p>Currently, bitcoiners are happier to be left alone by the governments of the world and such a policy supports this in the long term. But if we hope to see bitcoin rise to a more commonly-accepted and competitive currency, we will need governments to recognize that <a href=\"https:\/\/flyp.me\/en\/top-cryptocurrencies\/what-is-bitcoin\/\">BTC<\/a> does, in fact, bear value and follow \u201csafe and sane\u201d regulatory procedures. While this is not the time to hold the argument over how much and what kind of regulation would be appropriate and positive, I think that most bitcoiners will agree that we don\u2019t want it to be seen as monopoly money forever. Near-universal recognition and respect is needed.<\/p>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The bitcoin community in Korea is small, but growing, and it seems that governments around the world are taking the US Senate\u2019s recent hearings as a signal to begin determining at least temporary policies regarding our favorite cryptocurrency. Posted in Korea\u2019s Bitcoin Community on Facebook is a statement from Korea\u2019s National Tax Service stating that [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":4213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,389,468,542,678],"tags":[1051,1126,1201,1331],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Korea announces favorable tax policy for Bitcoin -<\/title>\n<meta name=\"description\" content=\"Korea is taking the US Senate&#039;s recent hearings as a signal to begin determining temporary policies regarding cryptocurrency.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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