South Korea Puts Off Crypto Tax

The National Assembly of South Korea has come to a consensus to postpone the implementation of a cryptocurrency tax until 2027.

This decision marks the third delay since the tax was first proposed in 2020. During the National Assembly’s plenary session on December 2, the Democratic Party (DP) announced that they would be voting in favor of the government’s delay plan.

Earlier, the DP had attempted to pass a different bill that would have implemented the crypto tax in 2025, but with a higher annual tax threshold of 50 million Korean won (equivalent to $36,000) to match the standards for stock trading taxes.

However, this proposal did not gain support from the ruling People Power Party (PPP). DP leader Park Chan-dae explained that the decision to delay was reached after extensive discussions, with the aim of better preparing institutions for the effective implementation of the tax system.