South Korean politicians agree to implement 2-year moratorium on crypto taxation
South Korea’s Democratic Party agreed to delay the implementation of crypto taxation laws, signaling a temporary truce in the heated debate over digital asset regulation in the country, the Korean Herald reported on Dec. 2.
Democratic Party floor leader Rep. Park Chan-dae announced the agreement to postpone the taxation of crypto profits by two years. Park said during a press conference:
“We have decided to agree to a two-year moratorium on the implementation of the cryptocurrency taxation proposed by the government and ruling party.”
As of 2024, approximately 20% of South Korea’s population — nearly 10 million people — engaged in crypto trading or investment. However, despite this high level of adoption, the country has…
