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Cryptocurrency News

South Korea postpones 20% tax on crypto gains to 2025

07/22/2022

Less than a minute

2022.07.22 00:50

The South Korean government has reportedly postponed the 20% tax crypto gains by two years. The controversial 20% tax on crypto gains was supposed to come into effect from January 1, 2023, but has been deferred to 2025.

The government officials announced their new tax reform plans on Thursday, deferring the crypto tax policy to 2025, citing stagnant market conditions and the time required for the preparation of investor protection measures. The initial plans of imposing an additional 20% tax on crypto gains exceeding 2.5 million won ($1,900) in a one-year period remain unchanged.