South Korea Delays Its Crypto Tax Again, Now Until 2029

South Korea will delay its long-awaited crypto gains tax for a fourth time, pushing it back to 2029. The levy was originally due to take effect in January 2027. The decision contrasts sharply with Hong Kong, which approved its own crypto tax reporting law on Wednesday. A Tax Proposal Every Crypto Investor Hates in South Korea South Korea’s crypto gains tax is a 22% levy on annual crypto profits above 2.5 million won ($1,870). The rate combines a 20% national tax and a 2% local tax. For example, an investor with 5 million won ($3,730) in gains would pay 550,000 won ($410). First introduced in 2020, the tax was originally due in 2022. Since then, lawmakers have postponed it three times amid investor backlash.

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