![crypto.jpeg](https://steemitimages.com/DQmYYndh1wswmr73NEE4FwzaMB7f6AtJG1LS21eJLLKYd3G/crypto.jpeg)

Looks like the South Korean government there has decided to prop up their revenue by [taxing crypto trading instead of banning them outright](http://www.forexlive.com/cryptocurrency/!/icymi-south-korea-wont-ban-cryptocurrency-exchanges-changes-itll-tax-them-instead-20180122). They are proposing corporate and income taxes on the country's cryptocurrency exchanges. Currently, all corporations with income over 20 billion won (~ $19M USD), have to pay:
- 22% corporate tax
- 2.2% local income tax

## Smart move by Korea
Looks like Korea knows how to pass tough legislation First, they start with an extreme position like banning the trading of bitcoin and other cryptocurrencies. Just when everyone is at peak outrage, they 'relent' and propose slightly less draconian regulations and everyone is happy. Well played!

## What it means for the rest of the market
The doomsday predictors have been out in full force since bitcoin and crypto started sliding, with some predicting that bitcoin would lose up to 90% of its value. If you've been HODL-ing, such predictions might have given you some pause, even if you were a true believer. 

Now that we have some clarity that two of the biggest crypto markets, Japan and South Korea, are not going to be passing drastic regulation banning cryptocurrency trading, i think we should be seeing some market stability around the current levels. Personally, i'll be HODL-ing at these prices and if we do see a 20-30% dip from here, possibly add a little stake in Ether or EOS. Fingers crossed!