How investors turn to gold-pegged cryptocurrencies to avoid taxes – DL News
- South Koreans can trade crypto tax-free until January 1, 2027.
- Trading physical gold is subject to 10% value-added tax.
- Traders taking “speculative punts” on cryptocurrencies tied to the value of gold.
South Korean investors are snapping up gold-pegged stablecoins amid soaring precious metals prices, as part of a bid to avoid hefty tax bills.
Crypto trading is not yet subject to any form of taxation in South Korea, unlike gold, which is subject to a 10% value-added tax on physical gold bars and jewelry, as well as trading platforms’ commission fees of around 5%. Those who choose to trade gold via the Korea Exchange, meanwhile, often have to pay 22% capital gains tax.
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