Guys, South Korea’s two major parties have tentatively agreed to delay the crypto tax by another two years, from 2027 to 2029.
They’ve been talking about this tax for years, postponing it again and again. This time, the two parties have, for once, managed to agree. South Korean retail investors are among the world’s biggest crypto traders, so with the tax not coming yet, they don’t have to rush to move their money.
It’s good news, but don’t read too much into it. The committee has only tentatively agreed; there hasn’t been an official vote yet. For now, it’s just a sentiment boost.
XRP, South Korea’s favorite, hasn’t reacted at all. It’s now at 1.057u, down from 1.08 when I wrote about it the day before yesterday. The outlook is still bearish. Don’t talk about a rebound unless it can get back above 1.16.
If South Korea really wants to push prices up, it’ll have to wait for Bitcoin to get back above 75,500 first. Only then will retail investors dare to jump in.
I’ll let you guys know when the official vote results are out. #韩国朝野暂定加密税推迟两年 $XRP
They’ve been talking about this tax for years, postponing it again and again. This time, the two parties have, for once, managed to agree. South Korean retail investors are among the world’s biggest crypto traders, so with the tax not coming yet, they don’t have to rush to move their money.
It’s good news, but don’t read too much into it. The committee has only tentatively agreed; there hasn’t been an official vote yet. For now, it’s just a sentiment boost.
XRP, South Korea’s favorite, hasn’t reacted at all. It’s now at 1.057u, down from 1.08 when I wrote about it the day before yesterday. The outlook is still bearish. Don’t talk about a rebound unless it can get back above 1.16.
If South Korea really wants to push prices up, it’ll have to wait for Bitcoin to get back above 75,500 first. Only then will retail investors dare to jump in.
I’ll let you guys know when the official vote results are out. #韩国朝野暂定加密税推迟两年 $XRP
