South Korea Considers Crypto Tax Delay as Five Exchanges Meet Officials
Officials and exchange operators will discuss unclear reporting rules as lawmakers weigh a bill that could push the 22% tax start to 2029.
- On Tuesday, finance officials Kwon Dae-young and Yoo Young-jun will meet representatives from Upbit, Bithumb, Coinone, DigitalX, Gopax, and the Digital Asset Exchange Alliance to discuss cryptocurrency tax preparations.
- Democratic Party lawmaker Park Min-gyu introduced a bill on Friday seeking to postpone the tax until the second year after South Korea begins sharing data under the OECD's Crypto-Asset Reporting Framework.
- Exchange officials told Yonhap on Sunday that unresolved transaction rules and limited time to prepare infrastructure support postponing the tax, as standards for different transaction types remain unfinalized.
- The current January 2027 implementation date remains unchanged, with the Income Tax Act requiring a 22% levy on qualifying income exceeding an annual 2.5 million won deduction for investors.
- If the first qualifying information exchange occurs during 2027, the proposed formula could place implementation on January 1, 2029, potentially pushing the tax start date back two years.
15 Articles
15 Articles
The government will convene representatives of the five major virtual asset exchanges. This is to listen to opinions from exchanges on virtual asset taxation, which is scheduled to be implemented from next year. According to the financial sector on the 18th, the government will convene representatives from the five major virtual asset exchanges (Upbit, Bithumb, Coinone, DigitalX, and Gopax) on the 20th to hold an on-site meeting on virtual asset…
South Korea Crypto Tax: 2029 Delay Proposal
Finance officials meet exchange representatives on October 20 to assess if the January 2027 crypto tax deadline is viable, with a proposal to delay to 2029 pending legislative action. Read the original on Crypto tax delay looms as South Korea faces technical readiness gaps. For more crypto news and analysis, visit TheCurrencyAnalytics.com.
South Korea Faces Fresh Push To Delay Crypto Gains Tax Until 2029
South Korea is approaching another decision point on its long-delayed cryptocurrency gains tax, with exchanges and policymakers preparing to discuss whether the January 2027 start date is realistic. TL;DR: The country’s planned crypto tax has already been deferred three times. A new proposal would push implementation toward 2029, but no additional delay has been enacted. Finance officials are expected to meet representatives of major domestic ex…
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