- South Korean crypto profits to be taxed at 22% starting next year.
- Bid to scrap incoming crypto tax law aimed at apathetic voters, says expert.
- Politicians have made crypto tax promises before previous elections.
No crypto tax.
That’s the core message of the People Power Party’s new bill. South Korea’s second biggest political party wants to scrap an incoming 22% government levy on crypto trading profits that is due to come into force on January 1, 2027.
However, sceptics say the bill amounts to little more than a desperate attempt to woo voters ahead of June’s crucial local elections.
“It’s very clearly a political ploy aimed at winning votes from young people, who are growing increasingly politically apathetic and — at the…
