The South Korean police have launched an investigation into the source of the leaked information about the government’s new legislative changes to crypto tax. Social media and private blog users have announced details of the changes before they go official this week..
According to the Kyunghyang Shinmun, The first article with leaked information was published on a government-themed websitethat quickly spread to cryptocurrency communities and was picked up by other media.
The Sejong District Police Metropolitan Investigation Team is leading the search for people who have disclosed all the details of Seoul’s plans.. It is not the first time that local authorities have to deal with the leakage of crypto-related legislative changes.
Between 2017 and 2018 Local media released a number of reports describing plans to regulate the country’s overheated cryptosphere. Police found that Korean customs officials and communications managers from the Prime Minister’s office were involved in the leak.
The invoice must first be approved
After a meeting of the Fiscal Development Review Committee on July 22nd The Ministry of Economy and Finance has published its revised tax legislation, which lists the new regulations.
The bill includes a proposal to introduce a 20% tax on cryptocurrency traders’ earnings.if they exceed $ 2,100 during a fiscal year.
Traders with a profit of less than USD 2,100 do not have to pay taxaccording to the bill. Other proposed changes include classifying cryptocurrencies as “assets” rather than currencies.
If the measures are approved by Parliament, they will enter into force in October 2021..