According to Wu: South Korea’s National Assembly has approved a new delay in implementing its cryptocurrency tax policy, pushing the enforcement date to 2027. Initially, the country planned to impose a 20% tax on cryptocurrency gains and a 22% local tax starting January 1, 2022.
The tax, aimed at gains exceeding 2.5 million Korean won, faced significant resistance from investors and industry stakeholders. In response, the government postponed its rollout twice, first to January 1, 2023, and then to January 1, 2025. Now, this latest decision extends the delay by another two years.