South Korea Weighs Education Tax on Crypto Exchanges
ME News, October 27 (UTC+8) — South Korean authorities have told executives at major centralized crypto exchanges that the platforms could be hit with an education tax if they are designated as financial institutions under the proposed Digital Assets Act. Crypto trading and brokerage in South Korea are currently classified as information and communication services, a category exempt from the levy. Banks, insurers and securities firms pay the education tax on revenue at 0.5% for the first 1 trillion KRW and 1% on anything above that threshold. (Source: ODAILY)
