Statistics Korea to Include Bitcoin in Household Financial Welfare Survey Starting This Year

[Asia Economy Reporter Kim Min-young] The Statistics Korea announced that starting this year, it will investigate virtual assets such as Bitcoin held by households. Accordingly, the scale of virtual assets held by households is expected to be identified.

On the 23rd, Statistics Korea stated that it will add virtual assets as a new survey item in the Household Finance and Welfare Survey, which is jointly conducted with the Bank of Korea and the Financial Supervisory Service starting this year.

The Household Finance and Welfare Survey is conducted annually around the end of March, targeting about 20,000 sample households nationwide to assess financial soundness through household assets, liabilities, income, and expenditures, and to understand the level and changes in economic life.

Statistics Korea has prepared this survey considering the ongoing international demand for investigating virtual assets and the original plan to implement taxation on virtual assets this year.

Although the taxation schedule for virtual assets was postponed by one year to 2023 following discussions in the National Assembly, Statistics Korea decided to proceed with the survey as planned to secure data.

Statistics Korea defined virtual assets independently as "virtual assets traded through exchanges." Respondents will be asked whether they hold virtual assets traded through exchanges, and those who answer affirmatively will be asked to report the evaluated value of their virtual assets as of the end of March.