South Korea is considering a fourth delay to its cryptocurrency tax, with one proposal moving its start to 2029. The tax is still legally set to begin on Jan. 1, 2027; any change requires parliamentary approval. Under existing legislation, annual virtual-asset profits above 2.5 million won, roughly $1,800, would face a combined 22% tax, with no provision to carry losses into later years.
The 2029 proposal would tie the start date to South Korea’s first exchange of data under the Crypto-Asset Reporting Framework, expected in 2027. The United States is not expected to participate until 2029, which could make transactions on overseas platforms harder to track than those on domestic exchanges. Opposition lawmakers have also suggested a delay until 2030 or scrapping the tax.
