South Korea Discusses Moving Crypto Tax Start Date to 2029

South Korea’s government is discussing delaying a crypto tax scheduled for Jan. 1, 2027, with 2029 under consideration as U.S. participation in international crypto tax-data exchanges is scheduled to begin. “We are discussing postponing the implementation of virtual asset taxation,” a Blue House official said. South Korea is scheduled to begin exchanging information under the Organization for Economic Cooperation and Development’s Crypto-Asset Reporting Framework (CARF) in 2027. U.S. participation in the framework is scheduled to start in 2029. The planned levy would apply to annual income from virtual-asset transfers or lending after a 2.5 million Korean won basic deduction. The rate is 22% as an other-income tax that includes local tax. The tax was introduced in 2020 through a change to South Korea’s Income Tax Act.

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