Welcome, welcome to One Minute Crypto!
I'm your host, Chronos, and today we'll talk
about developments in two countries with very
different crypto policies.
One is so friendly, they aren't even taxing
crypto profits, while the other is flat-out
banning its use entirely.
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So let's start with the bad news: the country
of Qatar has officially banned all "Virtual
Asset Services" within the country.
Qatar is a major player on the world stage:
they have the highest GDP per capita on the
planet, clocking in at just over 63,000 US
Dollars of GDP per capita.
Wow.
Their new ban clearly includes bitcoin and
other cryptos, in fact, they define it as
"anything of value that acts as a substitute
for currency, for payment or investment purposes."
Good luck getting around that.
But on the bright side, the crypto-friendly
country: South Korea has officially stated
that they are not currently taxing crypto
profits at all.
This is extremely unusual as a government
policy, and they do seem to realize this.
They are looking to change it.
We can probably expect to see a bill drawn
up in the first half of 2020 to begin
taxing profits from virtual currency in South
Korea.
What do you think about these developments?
Post your thoughts below.
I'm Chronos.
Thanks for watching!
