South Korea seeks 4th crypto tax delay, targets 2029 start
South Korea’s government has proposed delaying its 22% tax on annual cryptocurrency gains above 2.5 million won until 2029, another postponement from the planned January 2027 start. Officials say the delay would align taxation with the start of US information exchanges under the Crypto-Asset Reporting Framework and allow time for digital asset legislation. The government also plans a three-year loss carryforward and expects to submit tax-system amendments in 2027, with detailed guidelines in 2028. The tax has already been postponed three times since its original 2022 start date. The proposal reverses the Finance Ministry’s May position that implementation would proceed in 2027; exchanges and industry representatives have cited unresolved rules and inadequate preparation time.
