South Korea Wants Bitcoin Taxes

Bitcoin is hanging above the $10,000 mark after touching the $9,945 low earlier today.

It appears that the threats from South Korea banning the Bitcoin trading has subsided.  However, it didn’t really give the Bitcoin bulls a much needed lifeline.  It has been trending lower since Sunday. 

South Korea is requiring that anonymous transactions involving cryptocurrencies be made traceable.  The digital currency exchanges will be subject to a 24.2 percent tax.  South Korea’s Financial Services Commission Vice Chair Kim Yong-beom said Tuesday that the new measures would take effect on Jan. 30.

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