);)
The Democratic Party of Korea, which had previously pushed for a revision of the cryptocurrency taxation bill without a grace period, announced on the 1st that it has agreed to revise the Income Tax Act of the Republic of Korea to postpone cryptocurrency taxation for 2 years. Previously, the Democratic Party had pushed for a revision of the taxation system to impose taxation on cryptocurrencies starting from 2025, while raising the deduction limit to 50 million won, which had sparked a strong backlash from the cryptocurrency investor community in the Republic of Korea. Both inside and outside the market, it is interpreted that the Democratic Party has decided to postpone the taxation in response to the major controversy that arose over the taxation revision.
2. XRP surges as Ripple's stablecoin RLUSD is about to be launched
XRP broke through 3,000 won on the 2nd as Ripple's stablecoin RLUSD is about to be launched. Previously on the 31st, Fox Business reported that the New York Department of Financial Services (NYDFS) is reviewing the approval of the launch of RLUSD, and the launch date of RLUSD is expected to be on the 4th. With the news of the imminent launch of RLUSD, XRP rose about 12% on the 2nd, and XRP's market capitalization surpassed that of the cryptocurrency Solana (SOL), ranking 4th in the overall cryptocurrency market capitalization.
3. "Bitcoin has risen $26,400 in a month"... Recorded a monthly increase of 37%
It was revealed that Bitcoin (BTC) recorded a rise of about 37% in November, the second highest monthly increase in Bitcoin's history. Cryptocurrency media Cointelegraph attached a graph of Bitcoin in November, reporting that Bitcoin closed November at $96,400, rising about $26,400 in a month.
4. Cardano founder calls for unity in the cryptocurrency industry
Cardano founder Charles Hoskinson posted on his X account on the 1st that the cryptocurrency industry needs to unite to counter the impending strict regulations. As the founder of Cardano, he explained that he has shown a hostile attitude towards other foundations such as Ripple and Solana, and this attitude has caused the cryptocurrency industry to suffer for a long time under the enforcement of regulations. He emphasized that in preparation for the upcoming government regulations, cryptocurrencies must come together as one and focus on the growth of the industry.
Reporter Kwon Seung-won ksw@blockstreet.co.kr
