South Korea’s ruling Democratic Party lawmakers have agreed to recommend another postponement of the country’s cryptocurrency income tax, with a two-year delay until 2029 emerging as the preferred option.
Summary
- South Korea’s ruling Democratic Party lawmakers have recommended postponing cryptocurrency income taxation to 2029.
- Lawmakers cited gaps in overseas transaction reporting, unfinished digital asset legislation and concerns over exchange readiness as reasons for seeking additional preparation time.
- The proposed postponement would be the fourth since South Korea approved its crypto tax framework in 2020, which imposes an effective 22% tax on annual gains exceeding…
