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With the growing success of Bitcoin, most countries are thinking about the possibility of cryptocurrency taxes.
Among these countries, South Korea.
Thus, his Deputy Prime Minister, Kim Dong-Yeon, said his government was trying to better regulate the Bitcoin market. He would also be studying cryptocurrency taxation methods.
It should be noted that so far, this country had a light regulation for investors or Bitcoin industries.
These regulations are quite similar to those imposed by Japan through the Japan Financial Service Agency (FSA).
In addition, local virtual currency platforms can operate freely in South Korea with minimal government oversight.
As for Japan, in July it canceled the 8% tax on Bitcoin, in order to facilitate the growth of the Japanese market in this area.
South Koreans should adopt the same type of tax policy, as the country also seeks to provide more flexibility to cryptocurrency companies.
In South Korea, the main cryptocurrency exchange is Bithumb, which accounts for 70% of the market.
But South Korean banks are also very interested in virtual currencies. They started offering Bitcoin portfolios and safes, where investors can keep their currencies.
So Shinhan Bank would like to be an alternative to Bithumb, which has already been hacked twice this year.
All this news from South Korea is very encouraging. It proves once again that countries recognize the importance of Bitcoin and its future and are trying to normalize this market.
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Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.
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Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.
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Trade
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