South Korea's ruling party calls for a delay in the implementation of income tax on crypto assets
2026-09-29 13:53:26
According to CoinMeta, as reported by the Korean Times, Min Byeong-deok, a senior member of the policy committee of South Korea's ruling party, called for the postponement of the implementation of the tax on income from crypto assets, which was originally scheduled for January 1, 2027. He argued that the tax should be introduced only after the Digital Assets Basic Act is enacted and issues such as tracking overseas transactions and the deduction of losses are resolved. This stance has received support from the main exchange alliance DAXA and the majority of investors. In response, South Korea's Minister of Planning and Finance, Lee Hyung-ik, reiterated in parliament that the plan will proceed as originally scheduled, stating that 85% of investors hold less than 5 million Korean won in assets, and thus their tax burden is limited under the exemption threshold of 2.5 million Korean won. The tax law plan aims to levy a 20% tax on annual crypto earnings exceeding 2.5 million Korean won, and its implementation has been postponed three times previously.
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