South Korea wants to impose taxes on cryptocurrencies and initial coin offerings (ICOs), incoming finance minister Hong Nam-ki has said. The regime will be part of a government plan for a new tax infrastructure, local media reported on Monday.

Hong did not disclose any information about the crypto taxation, either related to the size of the tax or the rule implementation. South Korea is among the most active cryptocurrency trading places, and most of the local exchanges are leaders in the market.

“A task force consisting of experts from relevant government agencies including the National Tax Service and the private sector will be formed to examine overseas examples and hammer out the taxation plan,” the Korea Times cited the incoming minister as saying in his written confirmation address to the National Assembly.

Hong did not specify how the government would…

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