Cryptocurrency News

Crypto tax can wait, free coins can’t: S. Korea mulls ‘gift tax’ for airdrops

08/23/2022

Less than a minute

2022.08.23 11:58

Crypto tax can wait, free coins can’t: S. Korea mulls ‘gift tax’ for airdrops

The South Korean Ministry of Strategy and Finance on Monday cleared that virtual asset airdrops, staking rewards and hard forked tokens would be subject to a gift tax under the Inheritance and Gift Tax Act despite the postponement of crypto gains tax to 2025.

Cryptocurrencies are officially referred to as part of virtual assets under South Korean law.

08/23/2022

Less than a minute

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