South Korea Proposes Crypto Loss Carryforwards Through 2032

South Korea's government is proposing a crypto tax plan that would let investors use eligible trading losses to offset taxable gains in later years, with the carryforward period reaching through 2032. The proposal matters to investors because taxation is slated to begin in 2029, and pre-tax losses would not count toward future tax bills under the plan. Individuals with annual net crypto gains above 2.5 million won would face a 22% tax. Losses could be carried forward for as long as three years, but only if incurred from 2029 onward.

Source: TokenPost