News about Soutkorea

Korea government announcemet summary

  1. No Exchange shutdown, No Illegal activities allowed on Exchanges
  2. Tax on Exchange profit
  3. Tax on Cryptocurrency capital gain
  4. Real name verification
  5. More than $10,000 daily, $20,000 weekly transaction will be reported to Govermement
  6. Fiat deposit will only be available thru the same banks between the exchange and the investor. Withdrawal doesn’t matter.
  7. The deposit should be the same as the exchange bank, but the withdrawal may be different depending on the name of the bank.
  8. Government recognize that Blockchain and cryptocurrencies are inseparable.

Conclusion:
No exchange Shutdown. Monitoring of illegal acts on exchanges (Good news to investors)