Statistics Korea Incorporates Cryptocurrency into Household Wealth Survey Amid Accuracy Concerns

Statistics Korea has decided to integrate cryptocurrency into its household wealth survey, a move prompted by preparations for upcoming cryptocurrency taxation. However, due to concerns about accuracy stemming from low response rates in pilot surveys, the agency will decide whether to release the results after collection. The discrepancy between survey respondents and actual cryptocurrency holders, particularly attributed to demographic differences, has hindered accurate reporting. To address this, cryptocurrencies will now be included in the main survey, with hopes of improving response rates. Yet, the decision to make the results public remains uncertain, pending their credibility compared to previous surveys, and the classification of virtual assets as either real or financial assets is yet to be determined.

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