South Korea is postponing its crypto tax once again — this time until 2029 👀
The government is proposing to delay the 22% tax on profits for another two years. It was originally due to take effect in 2027, but regulators simply can’t keep up with the market. The main problem is the lack of a clear framework for tracking accounts on foreign exchanges, as well as a lack of alignment with international standards such as the OECD CARF.
What does this mean for the market?
Local trading in Korea will remain in a “greenhouse” for at least a few more years.
The Asian liquidity driver isn’t going anywhere. Korea’s retail market is one of the most active in the world, and the lack of tax pressure keeps trading volumes high in KRW pairs.
It seems regulators are finally starting to understand: imposing taxes before the infrastructure is properly in place simply pushes liquidity into the shadows.
What do you think? Will trading volumes hold up, or were Asian traders expecting more? 🚀
#HongKongToLicenseVirtualAssetCustodyAndAdvisory
#SouthKoreaRulingPartyLeaderSeeksCryptoTaxDelay
#USOctoberNFP-AreRateCutsStillPossible
#BinanceHourlyDepositsExceedWithdrawals
$BTC
$AMZN
$NVDA
The government is proposing to delay the 22% tax on profits for another two years. It was originally due to take effect in 2027, but regulators simply can’t keep up with the market. The main problem is the lack of a clear framework for tracking accounts on foreign exchanges, as well as a lack of alignment with international standards such as the OECD CARF.
What does this mean for the market?
Local trading in Korea will remain in a “greenhouse” for at least a few more years.
The Asian liquidity driver isn’t going anywhere. Korea’s retail market is one of the most active in the world, and the lack of tax pressure keeps trading volumes high in KRW pairs.
It seems regulators are finally starting to understand: imposing taxes before the infrastructure is properly in place simply pushes liquidity into the shadows.
What do you think? Will trading volumes hold up, or were Asian traders expecting more? 🚀
#HongKongToLicenseVirtualAssetCustodyAndAdvisory
#SouthKoreaRulingPartyLeaderSeeksCryptoTaxDelay
#USOctoberNFP-AreRateCutsStillPossible
#BinanceHourlyDepositsExceedWithdrawals
$BTC
$AMZN
$NVDA
