South Korea Reportedly Weighs Fourth Delay to Controversial Crypto Tax Framework
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South Korea is reportedly considering a fourth postponement of its controversial 20% crypto tax framework, pushing the implementation date further out. South Korean lawmakers are reportedly considering delaying the implementation of the country’s long-debated cryptocurrency tax framework for a fourth time, according to local media reports. As detailed by CoinDesk , discussions between the ruling People Power Party and the main opposition Democratic Party center on postponing the planned January 1, 2025 effective date. The proposed legislation aims to levy a 20% tax (plus a 2% local surcharge) on cryptocurrency capital gains exceeding 2.5 million won (approximately $1,800) annually.
Source: Cryptopress
