Isn't that a bit too much of tax?
and how would they regulate taxation protocol when holders of crypto transact anonymously?

But yes it is better than totally banning it! However, doing so would have a domino effect on other countries.. and people are used to no regulations with cryptos

As far as I know, it seems that taxation is only a tax on exchanges, which is the fee they earn.
But there is no news that a tax on individuals, even if it is levied on individuals, is good news too, suggesting that the Cryptocurrency market has been legalised in South Korea.

I think it is reasonable and way better than a ban.

I would accept 24 percent tax on profits rather than a ban for sure.

Hopefully china next to follow then we're back off on track again.

24% seems a bit steep but in a good way its not being stopped ,  they know how much money they can get out of the crypto currency markets and rather ban it let it carry on with a hefty tax %

Can't argue with you on that, that is just and fair to impose tax on profits gained.
Also it will be a good news if we look at it on the positive side, it would mean that market for crypto will be used widely as it already have.

Hold on though this is just on exchange owners profits right? in fiat

Individuals in S Korea we don;t yet know how they will be taxed do we?

Perhaps they will not be expected to pay tax unrealistically on each crypto to crypto trade?

Not sure where they are going with that yet.

It's in line with the country's current tax code, so there is no anti-cryptocurrency campaign going on. If the exchanges are operating in South Korea, then they have to follow South Korea's tax laws. Every other company does.

The 24.2 percent tax is taken from the exchanges' profits, not the trader (unless he makes obscene amounts of money to end up in that tax bracket). Part of this is inevitably going to be shouldered by their customers though, so that kind of sucks, but it's also fair. What would be unfair is if they charged higher taxes for crypto-based earnings, and they're not doing that.

I think its still unconfirmed until their government releases this issue on the news agencies.
 

Literally better than dropping the ban hammer, at least they are still given a chance to do trades which i think will give the market another boost.


Some how its still a good news but its gonna hurt because 24.2% is quite high for a tax. Its their governments decision so i think they are planning for theirs countries future economy.

if  that is true i think it is still better than banning bitcoin. in my country government always say bad about bitcoin and never look it deeply. if i can choose i prefer to pay tax but bitcoin can be legally in my country

it hurts for korean crypto 24% tax this is a double tax than the original tax fee. This tax is only for local currency in its area. But it's a bad idea that other local exchanger may also be following a 24% tax tax evasion of a local exchanger this is my opinion only. We should notice that the local exchanger pays tax for the government not the crypto users.
Earned by Korean korean users will only be taxed at 24% tax i think based in the principal amount.
the korean crypto users no longer have to accept it rather than bitcoin banning.