South Korea Proposes Delaying Crypto Taxation to 2029

A South Korean lawmaker has proposed delaying the country's cryptocurrency taxation to 2029. Kim Sang-hoon of the ruling People Power Party (PPP) introduced a bill that would push back the start date from January 2027.

The proposal argues that current tax infrastructure is not equipped to handle transactions on decentralized platforms. The National Tax Service lacks sufficient tools to track or verify trades executed through decentralized exchanges, peer-to-peer markets, and DeFi protocols.

Kim noted that a global framework for sharing virtual-asset transaction data among major economies is still in development. Without such a system, South Korean tax authorities could face significant gaps in collecting information on overseas crypto transactions.