Woh! Quite a lot of FUD today. But is it really FUD, or is it just everything we knew would come, and markets reacting irrational as always?
South Korea to tax crypto exchanged 24.2%
Local news Yonhap reports that south korean government has announced today that they will be collecting a 22% corporate tax and a 2.2% income tax from the country's crypto currency exchanges.
This is of course regulations, which we all knew would come. If this freaks you out of the market - good bye. In Norway every person and every business must pay this as well, even on cryptos. But like the "underground" debate in Norway..how are they going to tax us if we don't convert to your scumbag fiat currency? Right. You can't. Listen..these are the kinds of regulations Governments MUST do. And if this is all they are going to do - put some taxes on it? Pfft..we're going to moon. This is not the same as BANNING. This is regulations. And we know they are coming. Sure, we can try to avoid paying taxes (of course I wouldn't tell anyone to do something like that!) or develop better systems for not having to convert or pay in fiat. But as long as you are taking out profits from cryptos into fiat, you must follow their rules and pay taxes. So must businesses. That's just how they roll. They're not going to give us any free passes.
Korean exchange Korbit halting deposits from foreigners
Korbit announced that they will introduce accounts attached to users identities as ordered by local regulators - in a move aimed to calm speculation in the crypto market as well as money laundering.
https://www.coindesk.com/korean-cryptocurrency-exchange-korbit-halting-deposits-from-foreigners/
IMF calls for international cooperation on cryptocurrencies
The international monetary fund (lol..rather international scumbag fund for FIAT) has called for global coordination on cryptocurrencies, WARNING of the risks of surging cryptocurrency prices.
When asset prices go up quickly, risks can accumulate, particularly if market participants are borrowing money to buy. It's important for people to be aware of the risks and take the necessary risk-management measures
Yeah yeah..we know the risks. And we certainly know the risk of steadily losing monetary value with your inflationary fiat-currency. Thanks, but no thanks. Go regulate your own psychopathic tendencies or something instead.
https://www.coindesk.com/imf-calls-for-international-cooperation-on-cryptocurrencies/
And all these no-news IMO, is the reason markets are falling now. What a great buying opportunity for people not yet loaded. I wish I had some Fiat to convert right now..but I haven't. And that's it peepz! Regulators want to regulate. Didn't you know that? Is this why you're selling? You do realize this is what governments and banks do right? They've been doing this for 1000 years. They're not just going to roll over and die because we all of a sudden can send each other digital money.
