South Korea's 22% crypto tax might be pushed back again, this time to 2029 🇰🇷
Here's what's on the table:
• The tax: 22% on crypto gains above 2.5 million won per year (20% national + 2% local)
• Current start date: Jan 1, 2027, after three earlier delays
• The new bill: tax would start only after Korea begins sharing crypto data under the OECD's CARF framework. If that starts in 2027, the tax lands in 2029
The ruling Democratic Party filed the bill on Oct 16, and regulators have been meeting with the top exchanges since.
Why it matters: Korea is one of the biggest retail crypto markets in the world. Korean traders move coins like $XRP and $BTC on local exchanges, and a delay keeps that money active rather than pushing it offshore.
Should crypto gains be taxed like stocks, or is a delay the right call? 👇
#SouthKorea #CryptoTax #CryptoNews
Here's what's on the table:
• The tax: 22% on crypto gains above 2.5 million won per year (20% national + 2% local)
• Current start date: Jan 1, 2027, after three earlier delays
• The new bill: tax would start only after Korea begins sharing crypto data under the OECD's CARF framework. If that starts in 2027, the tax lands in 2029
The ruling Democratic Party filed the bill on Oct 16, and regulators have been meeting with the top exchanges since.
Why it matters: Korea is one of the biggest retail crypto markets in the world. Korean traders move coins like $XRP and $BTC on local exchanges, and a delay keeps that money active rather than pushing it offshore.
Should crypto gains be taxed like stocks, or is a delay the right call? 👇
#SouthKorea #CryptoTax #CryptoNews