Korea's Crypto Tax Looms as Russia Cracks Down on Mining

South Korea has confirmed plans to introduce a 22% tax on cryptocurrency gains exceeding 2.5 million won, set to take effect in 2027.

The move is aimed at providing regulatory clarity and could potentially support positive sentiment in crypto markets.

Russia, however, has taken a different approach by banning cryptocurrency mining in Moscow and surrounding areas until 2032.

This decision may counteract the potential benefits of South Korea's tax policy, as it reduces crypto activity in a major market.