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South Korea's Ruling Party Considers Delaying Cryptocurrency Taxation by Two Years

19/02 12:44

According to PANews, South Korea's ruling party, the People Power Party, is considering postponing the implementation of cryptocurrency investment income tax for another two years during the upcoming election campaign. The party stated that it would prioritize establishing a basic regulatory framework for cryptocurrencies rather than taxing investors and plans to propose a series of new regulations for the crypto industry during its next term. South Korea's cryptocurrency income tax was initially scheduled to be imposed from January 1, 2023, but has already been delayed to January 2025. Another postponement would push the tax plan's start date back to 2027.

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