Regulation· ★★★· bullish·

South Korean lawmaker calls for scrapping crypto income tax

  • —Song Eon-seok: crypto tax should be scrapped due to unfair treatment versus stocks
  • —Risk of capital flight to Singapore and Hong Kong cited as main argument against the tax
  • —South Korea's national debt will reach 1,519.8 trillion won next year
  • —Income tax revenue will rise by 48.1 trillion won (36%)
Why it matters: The debate over scrapping South Korea's crypto tax could shape regulation and capital inflows into the local crypto industry.
Source: Bloomingbit
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