South Korea’s finance officials are preparing to meet with major crypto exchanges on Tuesday to discuss the planned cryptocurrency tax, which is set to take effect in January 2027. The consultation will include representatives from Upbit, Bithumb, Coinone, DigitalX, and Gopax, as well as executives from the Digital Asset Exchange Alliance (DAXA). Key government attendees include Kwon Dae-young, first vice minister of finance and economy, and Yoo Young-jun, director general for digital financial policy at the Financial Services Commission.
The crypto tax has already been delayed three times, with the latest postponement pushing its start date to 2027. Industry pushback and political disagreements over exchange readiness and threshold levels have contributed to the delays. An exchange official told Yonhap that unresolved transaction rules and limited time for infrastructure preparations support the need for another postponement.
On Friday, Democratic Party of Korea lawmaker Park Min-gyu introduced a bill seeking to delay the tax until January 1 of the second year after South Korea begins sharing data under the OECD’s Crypto-Asset Reporting Framework (CARF). With the first exchange expected in 2027, taxation would begin in 2029.