South Korea Opposition Seeks Crypto Tax Delay Until 2030

South Korea's opposition is pushing to delay the implementation of its planned cryptocurrency tax until 2030, citing the need for more time to establish a fair and practical taxation system. The current plan is to begin taxing crypto gains in 2027.

The proposed delay has been introduced by People Power Party Representative Jeong Seong-guk, who argues that lawmakers and tax authorities require additional time to address reporting, loss deductions, and digital asset taxation rules. The current framework would see annual crypto gains above 2.5 million won face a combined 22% tax.

The opposition's efforts are significant for South Korea, where millions of investors actively trade digital assets. Proponents of the delay argue that it will give regulators time to develop clearer reporting standards and stronger investor protections.