September 25, 2022
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South Korea Ministry of Strategy and Finance has made a new revelation about virtual Airdrops. The Ministry disclosed that Airdrops might also attract gift tax. This development manifested when attending to the Ministry’s questions about the tax law of virtual assets. 

The question inquired if South Koreans would pay taxes on any virtual assets they received via any form of transaction. The Ministry described the free exchange of virtual assets as a Gift. Therefore, making such…

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