Korea Pushes Crypto Tax By 2027, Embraces Pro-Crypto Policies
States' evolving stance on digital assets under President-elect Donald Trump.
Despite political uncertainty, crypto trading activity on major South Korean exchanges, including Bithumb and Upbit, remains strong. The weakening of the Korean won against the US dollar has prompted many investors to use cryptocurrencies as a hedge.
Global Trends and Future Challenges
South Korea’s Korbit Research Center also emphasized the growing global competition surrounding Bitcoin, along with changes in crypto taxation policies. The center said that, with the US positioning $BTC as a strategic asset, the expectation is that geopolitical competition will increase.
According to a recent Korbit report, “The race to secure Bitcoin at the national level is already underway. If the US Bitcoin Act is enacted, the so-called ‘Bitcoin space race’ among countries could become a reality.”
In the United States, Senator Cynthia Lummis recently introduced a bill aimed at establishing a national Bitcoin reserve , calling it critical to maintaining global leadership. “America won the Space Race. Now America must win the Bitcoin Race,” she tweeted via X on December 12.
China, despite its internal ban on cryptocurrency trading, is said to be keeping a close eye on the developments. Analysts believe the country may be looking to use Bitcoin as a strategic reserve given global swings.
In Russia, President Vladimir Putin has recently acknowledged the function of Bitcoin, taking this into account in light of frozen reserves abroad.
But as international momentum for Bitcoin grows, challenges remain. Federal Reserve Chairman Jerome Powell recently dismissed the possibility of holding BTC. “We are not allowed to own Bitcoin. The Federal Reserve Act says what we can own, and we are not seeking to change the law,” Powell said at a press conference.
https://www.crypto-news-flash.com/id/korea-selatan-mendorong-pajak-kripto-hingga-2027-merangkul-kebijakan-pro-kripto/
