South Korean Lawmakers Tie Crypto Tax Start to 2029 CARF Data Sharing

Democratic Party lawmakers in South Korea proposed starting the country’s 22% crypto income tax in January 2029, tying its launch to international data exchanges under a framework developed by the Organization for Economic Cooperation and Development (OECD). If enacted, the proposal would mark a fourth postponement of the levy. The proposal would start the tax two years after the first year countries exchange data through the Crypto-Asset Reporting Framework (CARF). The framework lets tax authorities collect users’ tax-residency and transaction information from crypto service providers and exchange it across borders. The United States is not due to join CARF until 2029.

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