BitCoin Became An Asset

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ambar33n

Contributor
South Korean Supreme Court Rules Bitcoin Is an Asset

I read about this news that in south korea bitcoin is legally become recognizeable as asset. I do think bitcoin is a currency and not an asset. I dont know whether this is good news or not for cryptocurrency. One thing i believe with legalization from goverment i do think more investors will come to invest in bitcoin, but i think if bitcoin become an asset its not as it suppose to because i believe bitcoin should be a currency which is currency is for transaction and asset is not for transaction.
 
CryptoTC

CryptoTC

Crypto Fat Cat
The US determined bitcoin and crypto to be property and not currency in 2014. S Korea isn’t alone in this.
 
BitFit

BitFit

Contributor
Bitcoin has been declared an asset by some countries resulting in investment gains taxes while in others it’s a currency. Right now it’s being used as an investment, so calling it a currency is probably not right.

New classes need to be created expanding what countries currently regulate rather than trying to cram in everything new into old categories.
 
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