South Korea's Crypto Tax Targets Wealthy Investors in their 50s and 60s

South Korea is set to impose a 22% tax on virtual asset income exceeding 2.5 million won (approximately $1,806) next year, affecting wealthy investors in their 50s and older.

Data from South Korean financial authorities indicates that approximately 59% of high-value virtual asset holders, those with more than 1 billion won (about $722,000) in holdings, are aged 50 or above. This includes 3,994 individuals in their 50s and 2,426 aged 60 and older.

The tax is designed to treat virtual asset income similarly to other capital gains, but critics argue that the lack of a delay could create compliance challenges. The government has maintained that the tax is necessary to ensure fairness and broaden the tax base, especially as digital asset markets continue to grow.