South Korea May Introduce Up to 20% Crypto Capital Gains Tax-web3资讯-ODAILY

South Korea May Introduce Up to 20% Crypto Capital Gains Tax

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South Korea’s crypto capital gains tax may increase to 20%.

Editors Note: This article comes fromCointelegraph Chinese (ID: CointelegraphChina), Author: FELIPE ERAZO, reprinted with authorization by Odaily.

Cointelegraph Chinese (ID: CointelegraphChina)

, Author: FELIPE ERAZO, reprinted with authorization by Odaily.

Members of the South Korean private sector recently discussed a cryptocurrency-related tax bill that seeks to impose capital gains taxes on cryptocurrencies. During these discussions on July 13, members indicated that the tax on crypto gains could be increased by 20%.

secondary title

Cryptocurrency can be considered a commodity

The proposed amendments to existing laws also plan to classify cryptocurrencies as commodities, rather than currencies.

Lawmakers have determined that virtual assets can be considered electronic certificates of economic value that can be traded electronically. However, it can be considered an asset when the transaction is for sale.

The South Korean court cited Bitcoin (BTC) in its judgment, stating:

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ODAILY reminds readers to establish correct monetary and investment concepts, rationally view blockchain, and effectively improve risk awareness; We can actively report and report any illegal or criminal clues discovered to relevant departments.

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