SEOUL: South Korea will restrictively allow cryptocurrency trading on only qualified exchanges and review a possible capital gains tax on crypto trading as a way to restrain the nation’s frenzied speculation.
The government will propose measures that will conditionally allow cryptocurrency trading on exchanges that uphold investor protection and trade transparency while prohibiting trading by financial institutions, minors and non-residents, according to a statement from the Office for Government Policy Coordination. The policy makers will also form a task force to review a levy and seek “balanced” policies that won’t hurt block chain technology, it said.
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