South Korea Seeks to Delay Crypto Tax Until 2028: What You Need to Know

The future of cryptocurrency taxation in South Korea is once again uncertain. The South Korean government is considering delaying the scheduled crypto tax gains, and new developments suggest a potential push all the way to 2028. South Korea’s ruling People’s Power Party has officially proposed delaying the implementation of the country’s tax on cryptocurrency trading profits.

Initially scheduled to take effect in 2025, the taxation was initially scheduled in 2025, which saw multiple delays. Reports hint at South Korea’s further postponement of crypto taxation from 2025 to 2025. The new rule has been postponed twice, with the latest delay setting the implementation date to January 2025. If passed, the new bill, proposed by the South Korean ruling party, would push South Korea’s right-wing political party has proposed delaying the taxation of cryptocurrency gains by three years.

Why the Delay?

The ruling party prioritizes creating a regulatory framework for crypto before implementing taxes. Rep. Song Eon-seok introduces a bill to delay crypto tax to 2025, citing infrastructure issues. Previous delays in 20 show ongoing challenges in crypto tax implementation. If passed, the country’s crypto gains taxation will be delayed yet again.

What Happens Next?

The South Korean government has proposed delaying the plan to start cryptocurrency taxation until 2025, making it the third postponement since January 2025. Whether this latest attempt to postpone the crypto tax to 2028 succeeds remains to be seen. Stay tuned for further updates as this story develops.