#CryptoCorner; South Korea and Thailand Formulate Taxes and Crypto Market Sees Modest Rebound Following Bearish Weekend
#CryptoCorner; South Korea
and Thailand Formulate Taxes and Crypto Market Sees Modest Rebound Following
Bearish Weekend
Point Roberts, WA, Delta BC – April 2, 2018 - Investorideas.com, a leader in crypto and
blockchain investing news reports on what’s driving the cryptocurrency markets
with today’s edition of Crypto Corner.
Crypto Corner – April 2, 2018
By Samuel Mowers at Investorideas.com
Read this in full at http://www.investorideas.com/news/2018/crypto-corner/04021SouthKoreaThailand.asp
South Korea and Thailand Formulate Taxes and Crypto Market Sees Modest
Rebound Following Bearish Weekend
South Korea’s Financial News has reported in a recent piece that the country’s Ministry of Strategy
and Finance will have prepared a cryptocurrency tax framework by June 2018.
This follows a recent G20 summit in which the “establishment of a global common
regulation on virtual money” was deliberated. The G20’s plan for regulation is
expected for July 2018.
The Financial News story also indicated the South
Korean government’s intention to confer with the international community to
discuss cryptocurrency and blockchain in June.
“The government plans to set up a full-scale
virtual currency regulation right after the June 13 local elections. The
Ministry of Finance and Economy will hold an international financial conference
on virtual currency and blockchains for G20 members on June 14th in Seoul and
will hold a second working session on G20 international financial system on the
15th.”
According to a story in the
Nikkei Asian Review, Thailand’s Finance Minister Apisak Tantivorawong announced
cryptocurrency regulation and taxation after a cabinet meeting on March 27.
This move follows Thailand’s central bank’s ban on crypto trading in February.
“Under new laws to regulate cryptocurrencies and
digital tokens, investors will have to pay 7% value added tax on all crypto
trades, and a 15% capital gains tax on their returns.
The latest measures follow the Bank of Thailand's
ban in February on local banks investing and trading in cryptocurrencies. That
move caused uncertainty among local investors.
Both interventions confirm the cautious and
conservative influence that the country's finance policy mandarins continue to
exert.”
After dipping to $6500 USD
yesterday, its lowest price since Feb 6, Bitcoin (BTC) has rebounded to about
$7050 USD at press time. The total market cap dipped to $245 billion USD, its lowest since last
fall, but is now sitting around $265 billion USD. At press time all major
cryptocurrencies are displaying a 24 hour increase in trading price.
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