South Korea just took another step toward delaying its crypto tax — and I'm watching, because Seoul sets Asia's tone on crypto tax.
The ruling Democratic Party's supreme council formally proposed today postponing the tax scheduled for January 1, 2027. Leader Kim Min-seok said the Digital Asset Basic Act should come first, giving businesses and investors time to adjust.
This would be the fourth delay since the scheme was introduced in 2020. It taxes annual crypto gains above 2.5 million won (about $1,880) at 22%. Yesterday's committee leaned toward about two more years, though today's proposal sets no date.
A proposal isn't law, though — parliament must amend the Income Tax Act first, so January 1 stays the start date. The market isn't reacting either: $BTC near $76,729 (-0.3%/24h) and $ETH near $2,259 (+0.1%) on Binance spot.
Rules before tax: Asia's template, or just another delay? NFA, DYOR.
#CryptoNews #SouthKorea #CryptoTax #AsiaPolicy
The ruling Democratic Party's supreme council formally proposed today postponing the tax scheduled for January 1, 2027. Leader Kim Min-seok said the Digital Asset Basic Act should come first, giving businesses and investors time to adjust.
This would be the fourth delay since the scheme was introduced in 2020. It taxes annual crypto gains above 2.5 million won (about $1,880) at 22%. Yesterday's committee leaned toward about two more years, though today's proposal sets no date.
A proposal isn't law, though — parliament must amend the Income Tax Act first, so January 1 stays the start date. The market isn't reacting either: $BTC near $76,729 (-0.3%/24h) and $ETH near $2,259 (+0.1%) on Binance spot.
Rules before tax: Asia's template, or just another delay? NFA, DYOR.
#CryptoNews #SouthKorea #CryptoTax #AsiaPolicy