Main opposition candidate for the office of President of South Korea promises support for crypto tax exemptions-taxes

The leading presidential candidate of the opposition in South Korea has promised the voters to reduce the tax burden for crypto -related profits through tax exemptions. In a recently published explanation, Yoon Suk-Yeol pointed out that crypto investors are treated like those who invest money in shares.

presidential candidate wants to attract young voters with crypto tax cuts

YOON SUK-Yeol, the candidate of conservative Power Power Party South Korea for the upcoming presidential elections in March, has announced his intention to increase the threshold for the tax for taxes from Cryptoinvestment from currently 2.100 US dollar) to $ 50 million, which said, reported Korean media.

The opposition candidate made the promise on Wednesday in the party headquarters and pointed out that his government would raise the lower limit to the level that is now valid for stock investments. Therefore, Koreans who buy cryptocurrency can count on larger tax exemptions if they are elected.

Yoon announced that he will also propose a law on digital assets that are tailored to increase investor protection, added the Yonhap news agency. At the same time, the government in Seoul can draw profits after the new legislation through market manipulation.

Part of his plans for Korea's growing crypta compartment is also the establishment of a new government agency that is supposed to take over the supervision of new areas of digital industry such as cryptocurrency and non-fungible tokens ( nfts ). The presidential candidate also wants to allow domestic initials coin offers ( icos ). He emphasized:

I will promote an exchange -like environment for investments in digital assets to ensure that young people can enter new markets without fear.

The attraction of attracting young voters who are interested in cryptocurrencies has also become a priority for the prevailing political strength. The Democratic Party Korea's Collect cryptocurrency and issue receipts in the form of non -funny tokens to donors. The digital money is used to finance the election campaign of the party's presidential candidate, Lee Jae-Myung.

In December the South Korean Parliament postponed the on annual wins from virtual Assets that were to be introduced in January for one year until January 1, 2023.

Do you expect Yoon Suk-Yeol to redeem his promises to crypto investors after the presidential election in March? Tell us in the comment area below.

lubomir Tassew

lubomir Taskensev is a journalist from the technically experienced Eastern Europe, to the Hitchen's quote: "To be a writer is what I am and not what I do." In addition to crypto, Blockchain and fintech, international politics and business are two other sources of inspiration.

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