South Korea’s government has backed a proposal to delay its tax on cryptocurrency gains from January 2027 to 2029. Finance Minister Lee Hyoung-il said the government would consult lawmakers; the delay has not been approved. It would be the fourth postponement of a tax originally set to begin in January 2022.
The planned tax is 22% on annual crypto gains exceeding 2.5 million won ($1,860). The government said taxing gains before information exchanges with the US begin in 2029 could put the domestic market at a disadvantage. Officials also plan to propose a three-year loss carryforward, with tax amendments due for submission during parliament’s regular session in 2027.
