South Korea just hit pause on crypto tax — for the FOURTH time. 🇰🇷
On Nov 5, Finance Minister Lee Hyoung-il said Seoul will ask lawmakers to push the crypto gains tax from Jan 2027 to 2029. The tax isn't gone: 22% on yearly gains above 2.5 million won (about $1,869).
It was first planned for 2022, then delayed to 2023, 2025 and 2027. Why now? Crypto data exchange with the US only starts in 2029 — taxing earlier would put Korea's own market at a disadvantage. Seoul also plans a 3-year loss carryforward.
Takeaway: the tax is delayed, not cancelled — traders get 2 more years of breathing room while the rules are built properly.
Do you think delaying crypto tax helps adoption, or just delays the inevitable?
#Crypto #SouthKorea #Bitcoin
On Nov 5, Finance Minister Lee Hyoung-il said Seoul will ask lawmakers to push the crypto gains tax from Jan 2027 to 2029. The tax isn't gone: 22% on yearly gains above 2.5 million won (about $1,869).
It was first planned for 2022, then delayed to 2023, 2025 and 2027. Why now? Crypto data exchange with the US only starts in 2029 — taxing earlier would put Korea's own market at a disadvantage. Seoul also plans a 3-year loss carryforward.
Takeaway: the tax is delayed, not cancelled — traders get 2 more years of breathing room while the rules are built properly.
Do you think delaying crypto tax helps adoption, or just delays the inevitable?
#Crypto #SouthKorea #Bitcoin