South Korea Supports Blockchain with Tax Credit

Blockchain, Cryptocurrency–South Korea has continued its progressive stance towards cryptocurrency and the innovation it offers for fintech by providing tax incentives for blockchain development.

Despite the crypto markets entering into their twelfth month of a bear cycle, with the price of Bitcoin slipping below $4000 after making a rally to start 2019, the South Korean government has quietly added blockchain to the list of research and development fields that can qualify for a tax credit. The move is an attempt to boost interest in the space of blockchain, while mining the field for the potential innovation it could provide for financial technology, banking and improved economic practices.

Original source

Add comment

Please Sign in to be able to leave comments.