S. Korea will start levying taxes on crypto transactions

South Korean authorities are actively studying the experience of the US in the field of cryptocurrencies taxes levying
16 October 2017   1740

South Korean lawmakers are considering various options for taxation bitcoin. This is reported by Bitcoin.com.

A meeting of the National Tax Service (NSO) was held in Sejong City on October 13, where representative of the department Han Seung-hee answered questions concerning taxation options for crypto-currency, in particular bitcoin.

Also at the meeting it was noted that the daily volume of trade operations with the crypto currency already surpassed the corresponding indicator of the South Korean exchange Kosdaq.

I am still taxing business income, and I am discussing whether to tax the value-added tax or capital gains tax with regard to virtual currencies such as bitcoin.
 

Han Seung-hee
NTS Commissioner

Also, according to Han Seung-hee, the Ministry of Strategy and Finance of South Korea actively participates in the discussion of taxation issues. Among other things, agencies are considering the introduction of a gift tax on digital assets.

Finally, Han Seung-hee noted that his department is actively studying the experience of the United States, where the profits from operations with crypto assets are taxed, as well as the Japanese experience in regulating the sphere of virtual currencies.

Lightning Desktop App to be Launched in BTC Mainnet

The application, which is based on the lightweight Neutrino client, is available for the macOS, Windows and Linux, however, it's oriented fro test environment
24 April 2019   130

Lightning Labs, a leading developer of solutions for the Lightning Network, announced the launch of its desktop wallet in the main Bitcoin network. An application that was previously tested in a test network is available in the alpha version.

The application, which is based on the lightweight Neutrino client, is available for the operating systems macOS, Windows and Linux, however, as the developers emphasize, is still oriented primarily to the test environment. At the same time, more advanced users can also experiment with the wallet interface and get access to their funds.

Lightning App Desktop Version Screenshot
Lightning App Desktop Version Screenshot

The Neutrino client allows non-custodial Lightning wallets to verify Bitcoin transactions without the need to synchronize with the full version of the blockchain.

The new release includes such a function as displaying a single balance, which will allow users to see the cumulative number of coins both in the network base and in the payment channels by percentage.