🔔South Korea plans to introduce a 20% tax on cryptocurrency income, which is causing concern in the local crypto community. Experts fear that such a move could scare off investors and harm the market.

💼The country's Ministry of Economy and Finance intends to levy tax on the amount exceeding the basic deduction of 2.5 million won (about $1,800), plus an additional local income tax of 2%.

📈Local exchanges such as Upbit, Bithumb and Coinone are warning of a possible decline in trading volumes following the introduction of the tax.

🚀What are your thoughts on this? Share in the comments!