South Korea's 22% crypto tax keeps getting kicked down the road - already delayed 3x. Now the big 5 exchanges are meeting gov officials Tuesday to push for delay #4. Ruling party wants to punt it to 2029.
This is classic regulatory theater. Every time they get close, exchanges lobby and politicians fold. Watch how this plays out - if they cave again, it signals weak enforcement appetite. But if they hold firm, expect capital flight to friendlier jurisdictions.
Korea's crypto market is massive. A 22% tax would crater retail participation and push serious money offshore. Exchanges know this. Government knows this. Hence the endless delays.
Key signal: If this gets delayed again, Korean exchanges rally short-term. If it passes, watch for volume migration to offshore platforms.
This is classic regulatory theater. Every time they get close, exchanges lobby and politicians fold. Watch how this plays out - if they cave again, it signals weak enforcement appetite. But if they hold firm, expect capital flight to friendlier jurisdictions.
Korea's crypto market is massive. A 22% tax would crater retail participation and push serious money offshore. Exchanges know this. Government knows this. Hence the endless delays.
Key signal: If this gets delayed again, Korean exchanges rally short-term. If it passes, watch for volume migration to offshore platforms.