Why south korea banned bitcoin

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In South Korea , crypto taxing is a grey area: because cryptocurrency transactions are neither cash nor financial assets, they are now tax-free. South Korea's Financial Services Commission FSC has proposed a ban on using credit cards to purchase cryptocurrency, citing concerns "illegal outflow of domestic funds overseas. Investopedia does not include all offers available in the marketplace. Investing in cryptocurrencies and other Initial Coin Offerings "ICOs" is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs. Cryptocurrency exchanges , custodian wallet providers, and Initial Coin Offering ICO projects are all involved in these operations.