Korea’s Democrats Back a Crypto Tax Delay, Promise a Firm End Date They Haven’t Named

The crypto income tax South Korea is due to start collecting on Jan. 1, 2027 should be put off, the ruling Democratic Party formally told the government, though it has yet to say for how long. “The Democratic Party formally proposes to the government a deferral of taxation on virtual asset income,” the Democratic Party chief Kim Min-seok told the party’s Supreme Council in the National Assembly on Nov. 4, according to Korean news agency News1. Kim spoke in Korean; the quotes in this story are Unchained’s translations. Kim said the party reached its position after consultations between the party and the government, centered on the Assembly’s finance committee, and a meeting with crypto businesses.

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