South Korea is moving to postpone its crypto capital gains tax until 2029, the fourth delay since the policy was first proposed in 2020.
🇰🇷SOUTH KOREA MIGHT DELAY ITS 22% CRYPTO TAX TO 2029. This thing has already been delayed 3 times and now lawmakers want another 2 years. The reason is that authorities still need better ways to track overseas transactions. Apparently, tracking overseas crypto trades remains a big part of the problem. Everyone keeps talking about taxing crypto profits. First, they need to get the rules straight.
South Korea Postpones Planned Crypto Tax Once Again South Korea has delayed its cryptocurrency income tax policy, which was scheduled to take effect on January 1 next year. The tax plan was introduced in a 2020 revision of the Income Tax Act and has already faced three previous delays. Under the proposed rules, crypto investors would pay a combined 22% tax on annual gains from transferring or lending digital assets, with a basic exemption of 2.5 million won. The latest postponement gives investors more time before the policy takes effect. #Crypto #Blockchain #CryptoTax #BitcoinNews #BabaCrypto #CryptoNews #CryptoCurrency #Korea
🇰🇷JUST IN: South Korea could DELAY its 22% crypto tax for the FOURTH time, likely to 2029. A bill from the ruling Democratic Party would push the start date back from January 2027. It says Korean exchange users would be hit hardest, since authorities can't see trades on foreign platforms until global crypto tax data sharing starts. Officially, the tax still starts in January 2027, and the presidential office said today a delay is under review but nothing has been decided. If it passes, a tax first due in 2022 will have been pushed back SEVEN years.
JUST IN🚨🚨🚨 South Korea is leaning toward delaying its 22% crypto gains tax AGAIN. The tax is set to start January 1, 2027. Today a presidential office official told Yonhap it's "under review" and "no decision has been made." But officials quoted by Hankyoreh and Seoul Economic Daily say the plan is to postpone. 14 ruling-bloc lawmakers already filed a bill pushing the start date to 2029. Why 2029? That's when the U.S. joins the OECD's crypto tax reporting framework. Even the opposition party backs the delay. The final call is expected after party-government talks, with the tax law change reviewed in November. Korea is one of the biggest retail crypto markets on the planet. Not law yet. But the signal is loud. Does Korea finally kill this tax, or just keep kicking the can? $XRP
🚨SOUTH KOREA LEANS TOWARD DELAYING 22% CRYPTO TAX TO 2029! The crypto gains tax is still officially set for January 2027 at 22% after a 2.5M won deduction. It has already been delayed three times. The ruling Democratic Party filed a bill that would push the start to 2029 by tying it to international data sharing under CARF. Lawmakers say authorities can’t properly track overseas trades until then. The presidential office has signaled it is open to another delay. No final decision yet.
🚨It is reported now over 40 countries now TAX cryptocurrency gains! Some rates reach an INSANE 55%, 52%, 45%, 42%, 37% and 30%! Others charge just 10%, 8% or even 0%! Some also offer tax-free gains for long-term holders. The difference in crypto taxation worldwide is STAGGERING!
🚨 BLOCKCHAIN ASSOCIATION URGES US CRYPTO TAX OVERHAUL! The Blockchain Association urged Congress to update crypto tax rules. This includes a $10 de minimis tax exemption and wash sale rules for $BTC . After the CLARITY Act stalled in the Senate, the industry shifted focus to tax reform.
South Korea’s presidential office is backing another delay of the country’s 22% crypto gains tax, which could push the start date from January 2027 to 2029. Officials say the government still isn’t fully ready to collect it properly, especially when it comes to tracking trades on overseas exchanges, and they’re also thinking about younger investors who use crypto to build wealth. This would be the fourth postponement since the tax was first introduced, and parliament still has to approve any change before the current 2027 deadline moves.
