South Korean authorities are considering a further postponement of the nation's cryptocurrency income tax policy. While the current implementation date is set for January 1, 2027, officials are discussing a potential delay until 2029.
The proposed tax policy includes a 22% levy on crypto gains, consisting of a 20% income tax and a 2% local tax. This applies to investors with annual earnings exceeding ₩2.5 million, which is approximately $1,883.
The primary reason for the potential delay is the timeline for international data sharing. The United States is scheduled to join the OECD Crypto-Asset Reporting Framework in 2029. South Korean officials noted that the US market represents nearly half of the global virtual asset sector, making coordination essential.
This tax policy was first proposed in 2020 and has faced multiple delays since its inception. A representative from the Blue House confirmed that discussions regarding the postponement of virtual asset taxation are currently underway.
