6/22/2018, 8:13 AM (Source: TeleTrader)
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Bitcoin above $6,600 as S.Korea denies plan for tax

The Ministry of Strategy and Finance in Seoul said the information from Chosun Ilbo about a potential capital gains tax for the cryptocurrency market wasn't true. The newspaper wrote, quoting an unnamed South Korean official the burden would be 10%, with one to two years before implementation. Regulatory updates from the country, which has a large share of Bitcoin transactions on a global scale, have impacted the price on exchanges worldwide in the past year and more.

The first cryptocurrency slipped 0.82% to $6,660.4 at 8:11 am CET. The exchange rate against the euro was 1.11% lower at 5,731.7. This month's Bitcoin futures on CME Globex declined 1.19% to $6,640. Spinoff cryptocurrency Bitcoin Cash fell 2.62% to $848.61.

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