South Korea opposition proposes delaying 22% crypto tax to 2030

South Korea’s opposition People Power Party has moved to delay the country’s 22% cryptocurrency investment tax by three years to Jan. 1, 2030, days after the government kept the levy on track to start in 2027. Summary South Korea’s People Power Party has proposed delaying the 22% crypto tax from 2027 to 2030. The tax would apply to annual crypto gains above 2.5 million won. The government recently kept the Jan. 1, 2027, implementation date in its 2026 tax reform proposal. A separate opposition bill seeks to abolish the crypto income tax altogether. Lawmakers are also working on new rules covering stablecoins, exchanges and digital asset markets. According to South Korean broadcaster MBN, People Power Party lawmaker Jeong Seong-guk plans to introduce an amendment to the Income Tax Act that would move the implementation date from Jan. 1, 2027, to Jan. 1, 2030. Jeong said the additional three years would give lawmakers and authorities time to review the virtual asset tax system and related rules before investors become liable for the tax. He argued that setting a later implementation date would give taxpayers more certainty and reduce confusion while the framework is being reconsidere...