South Korea’s ruling party seeks another delay to cryptocurrency tax
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South Korea’s ruling Democratic Party has formally proposed postponing the introduction of tax on cryptocurrency gains, currently scheduled for January 2027.
Party leader Kim Min-seok said the government should first introduce the Digital Asset Basic Act, which would establish a comprehensive regulatory framework for the sector. He also argued that businesses and investors needed time to prepare for the new requirements.
The proposed tax would impose a 22% levy, including local tax, on annual gains from crypto transfers and lending above 2.5 million won ($1,869). If the postponement is approved, it would be the fourth delay since the tax was legislated in 2020.
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