South Korea Wants Crypto Law First, Proposes Fourth Delay to 22% Crypto Tax

TLDR South Korea’s ruling Democratic Party has formally proposed delaying the country’s crypto income tax. The tax is set to start on Jan. 1, 2027, and would charge 22% on gains above 2.5 million won. Party leader Kim Min-seok wants the Digital Asset Basic Act passed before the tax begins. If approved, this would be the fourth delay since the tax became law in 2020. The presidential office was reportedly discussing pushing the tax to 2029. South Korea’s ruling Democratic Party has formally proposed delaying the country’s tax on crypto income. The tax is currently scheduled to begin on Jan.