South Korea Locks in 20% Cryptocurrency Income Tax – July 22

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$9,337

Bitcoin price movement has tapered off from yesterday’s run, holding strong above the $9,300 mark to start the day.

Top-20 altcoins also appear to be stagnant over the last 24 hours, with Ethereum unchanged and XRP with a rise of less than 1%. Tezos is the only top-20 coin with a move of more than two percent in either direction, gaining 4%.

Top Stories for July 22, 2020 🔥

👉 South Korea Locks in 20% Cryptocurrency Income Tax

South Korea has finalized a figure for its tax rate on income generated via cryptocurrency trading, setting the number at 20%.

Under the new rules, gains from cryptocurrencies will now be classified as taxable income, with a minimum threshold of 2.5 million won (equivalent to USD$2,000). Anything under the threshold will not be taxed.

👉 Final Ethereum 2.0 Testnet to Launch in Two Weeks

The final testnet before Ethereum 2.0 will be launched as soon as August 4th, due to run for at least three months before the launch of the 2.0 mainnet.

The testnet will support Ethereum’s multiple clients and also feature “Launchpad”, an educational deposit interface for hobbyists.

👉 Google, Twitter, Facebook Face $600M Lawsuit Relating to Crypto Ad Bans

Cryptocurrency business owners in Australia are seeking $600 million in damages from digital giants Google, Twitter and Facebook following their 2018 ban on crypto-related advertising.

The plaintiffs are being represented by Sydney law firm JPB Liberty, who are seeking funding for the case, offering a 30% cut of the settlement to “investors”.