South Korean crypto traders have really come out on top this time! The 22% crypto tax, originally set to take effect next year, has been pushed back another two years!
This isn’t the first time. Including this latest delay, South Korea’s crypto tax has now been postponed for the fourth time.
It was originally planned to start in 2027. If your net profits from crypto trading exceed 2.5 million won in a year, you’d have to pay 22% tax on the amount above that threshold.
Now the government says it’s been postponed until 2029.
They’re also planning to look into letting investors carry forward losses for three years to offset future profits.
Here’s my honest take:
The South Korean government hasn’t suddenly given up on collecting taxes. It’s realized that this won’t be so easy to implement.
Domestic transaction records, data from overseas exchanges, and how losses can be deducted—none of this has been fully sorted out yet.
But I think there’s another practical issue: young people already see cryptocurrency as part of their asset allocation, and investors obviously won’t be happy with tax policies that keep changing back and forth.
If you want to tax crypto, fine—but get the rules straight first. You can’t come after people for taxes when they make money, then leave them to bear the losses on their own when they lose money.
#韩国 #加密货币 #比特币 #CryptoTax #金融监管
This isn’t the first time. Including this latest delay, South Korea’s crypto tax has now been postponed for the fourth time.
It was originally planned to start in 2027. If your net profits from crypto trading exceed 2.5 million won in a year, you’d have to pay 22% tax on the amount above that threshold.
Now the government says it’s been postponed until 2029.
They’re also planning to look into letting investors carry forward losses for three years to offset future profits.
Here’s my honest take:
The South Korean government hasn’t suddenly given up on collecting taxes. It’s realized that this won’t be so easy to implement.
Domestic transaction records, data from overseas exchanges, and how losses can be deducted—none of this has been fully sorted out yet.
But I think there’s another practical issue: young people already see cryptocurrency as part of their asset allocation, and investors obviously won’t be happy with tax policies that keep changing back and forth.
If you want to tax crypto, fine—but get the rules straight first. You can’t come after people for taxes when they make money, then leave them to bear the losses on their own when they lose money.
#韩国 #加密货币 #比特币 #CryptoTax #金融监管
