The possibility of cryptocurrency taxation being postponed for two years increases after South Korea scraps financial investment tax plan

Odaily News Given the recent agreement among South Korean political parties to cancel the planned income tax on financial investments, the cryptocurrency capital gains tax originally scheduled for 2025 is now more likely to be postponed to 2027. A South Korean Democratic Party official said that it is now considered necessary to postpone the cryptocurrency capital gains tax to maintain fairness. The South Korean government proposed a tax law amendment in July that included the postponement of cryptocurrency capital gains tax, but the passage of the amendment has been uncertain due to the Democratic Party's opposition to the government's other tax reduction policies. Min Byoung-dug, a member of the Democratic Party, emphasized that legal recognition of the industry is needed before the income of the virtual asset industry can be legally taxed, so he supports the current decision to postpone the taxation of virtual assets. (Korea Economic Daily)