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Gov’t to Collect 24.2 Pct of Taxes on Income by Cryptocurrency Exchanges

Gov’t to Collect 24.2 Pct of Taxes on Income by Cryptocurrency Exchanges

SEOUL, Jan. 22 (Korea Bizwire) — The government said Monday it will collect up to 24.2 percent of corporate and local income taxes from South Korea’s cryptocurrency exchanges this year. The Seoul government has been striving to rein in the virtual currency frenzy in Asia’s fourth-largest economy while contemplating a bill to ban cryptocurrency exchanges. [...]