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Youth backlash grows as gov’t pushes ahead with crypto tax plan

Youth backlash grows as gov’t pushes ahead with crypto tax plan

A representation of virtual cryptocurrency bitcoin / Korea Times photo by Shim Hyun-chul

A representation of virtual cryptocurrency bitcoin / Korea Times photo by Shim Hyun-chul

The government’s plan to begin taxing digital assets in January is drawing mounting opposition from retail investors, opening a fresh political battlefront ahead of the 2028 general elections, as young voters protest what they see as unfair tax policy, according to market watchers on Thursday.

The complaints come as a growing number of young people have already expressed frustration over a series of economic policies by the Lee Jae Myung administration targeting young people’s housing, savings and investments.

The government and the ruling Democratic Party of Korea (DPK) say that crypto taxation will take effect on Jan. 1, when the current grace…

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