South Korea Delays Its Crypto Tax Again, Now Until 2029

South Korea’s government accepted a proposal from Democratic Party leader Kim Min-seok to postpone the country’s crypto gains tax for a fourth time, to 2029, after he proposed the delay on Wednesday and it agreed the next day; Finance Minister Lee Hyung-il announced the decision at an emergency briefing. The levy is 22% on annual crypto profits above 2.5 million won ($1,870), combining 20% national and 2% local tax. First introduced in 2020 and originally due in 2022, it has been postponed three times. The deferral still requires National Assembly approval; officials cited the U.S. crypto tax information exchange starting in 2029 and a need to refine rules such as loss carryforwards.