South Korea Elects President Supporting NFT, Cuts Capital Gains Tax on Bitcoin, Ethereum, Dogecoin
Yoon Suk-yeol, a conservative candidate who has driven crypto deregulate and NFT issuance, has been elected the new president of South Korea, according to the BBC. with the closest scores less than 1% apart
During the campaign, Yoon pledged to reduce the tax burden on profits from investments in cryptocurrencies such as Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE). Concerning NFTs, ready to stand by self-signed (Mint) as an NFT, unlike Lee Jae-myung that doesn’t support it. cryptocurrency
“To realize the limitless potential of the virtual asset market We have to overhaul rules that are far from reality and illogical,” Yoon said.
Yoon also said he wanted to help create a “unicorn” related to blockchain technology. which is a startup worth $1 billion or more in South Korea.
Why is it important? According to a report from a local news agency Cryptocurrency It is gaining popularity among young people in South Korea. Young people have left their jobs to seek Daily cryptocurrencies, on the other hand South Korea’s traditional stock markets are dominated by four family conglomerates known as chaebols, which many believe to be corrupt and politically influential.
However, the immorality in the crypto world is out of control. Yoon promises to enact laws to bring back the profits from the illegal use of crypto to victims.