South Korea’s Ruling Party Plans Talks on Delaying Crypto Tax to 2029

South Korea’s ruling Democratic Party has scheduled talks with five domestic crypto exchanges for Friday in South Korea as it considers moving the planned virtual-asset income tax from January 2027 to 2029. Party legislation proposes the two-year shift, with the party pointing to inadequate infrastructure and difficulty obtaining trading data as reasons. Representatives of Upbit, Bithumb, Coinone, Korbit and Gopax are expected to participate. The levy has already been postponed three times, and the current tax timetable sets its start in January 2027. The planned system would provide a basic deduction of 2.5 million won for annual income tied to virtual-asset transfers and rentals. Combined income and local taxes would amount to 22%. Friday’s discussion will focus on whether to move the scheduled start to 2029.

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