South Korea to announce up to 20% increase in investment tax on cryptocurrencies

On July 13, the Cointelegraph reported that the South Korean private equity group had recently discussed a cryptocurrency tax bill to make it taxable for cryptocurrencies. During the meeting, members said the cryptocurrency tax increase could increase by 20%. Changes to existing legislation also provide for dividing cryptocurrencies into "commodities" rather than currencies. Lawmakers decided that virtual assets could be considered electronic certificates of value that could be exchanged for electricity. However, in the case of a business for sale, it can be considered as real estate.