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In a significant legislative update, South Korea has revised its Donation Act for the first time since 2006, broadening the scope of acceptable donation assets but notably excluding cryptocurrencies like Bitcoin. Expanded donation options embrace technology: The Ministry of the Interior and Safety, which is overseeing the amendments to the Enforcement ...
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In the context of cryptocurrencies, “cost basis” refers to the initial outlay paid for digital assets. It is an important consideration when calculating capital gains or losses from the sale or disposal of cryptocurrencies. The capital gains or losses on an investor’s crypto sale are calculated as the selling price minus the cost basis. To avoid tax ...