South Korea seeks 4th crypto tax delay, targets 2029 start
South Korea is seeking a fourth delay to its 22% crypto tax, months after reaffirming plans to begin taxing digital asset gains in January 2027.
South Korea is seeking a fourth delay to its 22% crypto tax, months after reaffirming plans to begin taxing digital asset gains in January 2027.
South Korea’s government has backed postponing tax on cryptocurrency gains by another two years to 2029, in what would be the fourth delay to its implementation.
Finance Minister Lee Hyoung-il announced the proposal Thursday, saying the government would consult lawmakers on postponing the January 2027 implementation date.
The government cited 2029 as the start of information exchange with the US under the Crypto-Asset Reporting Framework (CARF). It said imposing the tax before those exchanges begin could put the domestic market at a disadvantage relative to overseas markets. It also wants to account for changes under planned digital asset legislation.