S. Korea signals delays to crypto income tax
Korea HeraldAPR 2023
This is just one of many digital-asset firms to collapse, demonstrating that stringent government regulations for transactions in virtual coins are necessary. An unregulated business environment may have irreversible and disastrous economic consequences — for lenders, buyers, and the state.
The whole point of cryptocurrency is its decentralized structure and immunity to being governed by wealthy conglomerates or authoritarian governments. It's essential to keep cryptocurrency technology as it's supposed to be – decentralized and transparent – to avoid further crypto explosions and bankruptcies.