For crypto currency, 2018 started unsuccessfully. This is mainly due to growing concerns about tightening the rules of trade in crypto-currencies in South Korea and other countries. Bitcoin lost about 11% to $ 10310 during the last trading session. At the moment, the cost of bitcoin has decreased by approximately 50% compared to the record value of about $ 20,000, reached in mid-December. At the weekend, the South Korean news agency Yohnap reported that the government of South Korea, in the framework of tightening the rules for the trade in digital currencies, intends to require crypto-exchange exchanges to provide banks with the data of customers that carry out transactions.
According to the anonymous official, it is planned that this month or early next year, South Korean banks should launch a system that will require crypto-exchange exchanges to provide data on customers carrying out transactions. This step will allow the implementation of taxation of operations with crypto-currencies. On Monday, another article by Yohnap agency was published, which says that this year the South Korean government is going to introduce a local income and corporate tax on crypto-exchange exchanges of 24.2%. Last month, South Korean regulators banned banks from opening new crypto-currency accounts and demanded that traders use crypto currency for account operations opened only under real names.
The South Korean government is considering various options to tighten control over the trade in crypto-currencies, including the complete closure of all crypto-exchange exchanges or only those that operate illegally. Trades in crypto-currencies in South Korea are extremely speculative, while the prices for crypto-currencies on South Korean exchanges are often much higher than those on stock exchanges in other countries. South Korea is one of the largest markets for crypto-currencies, for example, bitcoin and ether.