South Korea's ruling party to meet its five largest crypto exchanges on Oct 30 over a possible crypto tax delay

OPENING
The Democratic Party's policy committee will hold a meeting at the National Assembly on the morning of October 30 with the heads of South Korea's five major crypto exchanges, Upbit, Bithumb, Coinone, Korbit and GOPAX, to discuss whether to delay crypto taxation. Under current law, South Korea's crypto tax takes effect on January 1, 2027, taxing annual crypto gains above 2.5 million won at 22% including local income tax.
KEY DETAILS
- The Democratic Party's policy committee will hold a meeting at the National Assembly on the morning of October 30 with the heads of South Korea's five major crypto exchanges, Upbit, Bithumb, Coinone, Korbit and GOPAX, to discuss whether to delay crypto taxation.
- Under current law, South Korea's crypto tax takes effect on January 1, 2027, taxing annual crypto gains above 2.5 million won at 22% including local income tax.
- A party-government consultation on October 28 ended without a decision on whether to delay the tax.
- The tax was originally due in 2022 and has already been postponed three times, so another delay would be the fourth.
WHY IT MATTERS
The outcome decides when Korea's retail crypto market starts paying tax on gains. (Analysis, not a confirmed fact.)
IMPORTANT CONTEXT
- Lawmakers have cited concerns that missing data from overseas exchanges could leave users of domestic exchanges carrying an unfair share of the tax burden.
- Chosun Biz reports that a Democratic Party bill introduced by Rep. Park Min-kyu would push the start date to 2029.
- JoongAng Ilbo quotes a policy committee official as saying a final decision is expected at a high-level party-government meeting in November.
- This article is informational and is not financial advice. Digital assets are volatile.
SOURCE
- Primary / main source: https://x.com/TheBlockCo/status/2115676785849634919
- Supporting: https://biz.chosun.com/en/en-policy/2026/10/29/NCOVSBFNHFCL3GZXBJ66EA5BWY/
- Supporting: https://www.joongang.co.kr/article/25473962
- Supporting: https://en.yna.co.kr/view/AEN20261028002800315
#SouthKorea #CryptoTax #Upbit