In an attempt to promote institutional adoption of the cryptocurrency industry, the South Korean government confirmed in an official announcement made on 30th December 2019, that crypto gains are not taxable. Yes, South Korea has always been supportive of blockchain and cryptocurrency. It is, after all, one of the few countries to have unhesitatingly followed China’s footsteps to boost blockchain investments in the region by pledging a massive contribution of around thirteen million US dollars ($12.8 million) by 2020. In November 2019, it also passed a bill to regulate cryptocurrency in a bid to promote constitutional crypto growth. It’s ‘ka-ching’
