cryptojournalist
South Korea’s Democratic Party has agreed to push the crypto tax deadline back two more years, now aiming for 2027 instead of 2025.
A Change of Heart
At first, the Democratic Party didn’t want to delay the tax, calling it a trick by the ruling party. But after discussions, they decided to support the delay. The tax, originally planned for 2025, will now happen in 2027.
The Ruling Party’s Argument
The ruling party, the People’s Power Party, said rushing the crypto tax could drive investors away. They had even suggested pushing the tax back to 2028. The Democratic Party had also suggested raising the tax threshold to $36,000, so only larger investors would be affected.
Delayed Multiple Times
This crypto tax was first set for 2021 but was delayed due to pushback from the crypto community. It was moved to 2023, then 2025, and now to 2027. When it’s finally implemented, South Korean crypto investors will face a 20% tax on their gains.
