Official announcements from the South Korean government or reports by major financial news outlets

South Korea Delays 20% Cryptocurrency Tax to 2027 with Bipartisan Support

Dec 1, 2024, 08:40 AM

South Korea has agreed to delay the implementation of a 20% tax on cryptocurrency gains until 2027, marking the third postponement of the tax initially scheduled for 2021. This decision has garnered bipartisan support from both the government and the opposition Democratic Party, despite initial criticism from the latter as a 'political trick'. The delay was influenced by industry pushback and concerns over investor interests, providing cryptocurrency investors in South Korea with an additional two years before the tax comes into effect.