South Korea moves to delay crypto tax to 2029 in fourth postponement

South Korea’s finance minister, Lee Hyoung-il, said the government would work with the National Assembly to postpone the cryptocurrency gains tax by two years, to 2029, a day after Democratic Party Chairman Kim Min-seok requested another delay. The existing law treats gains from digital-asset sales or lending as miscellaneous income; amounts above a 2.5 million won annual allowance (about $1,869) would incur a 20% national levy plus a local surcharge, for 22%. The tax’s start had already moved from 2022 to 2023, 2025 and 2027. The government cited South Korea’s planned 2029 crypto-information sharing with the United States under the OECD framework and an upcoming Digital Asset Basic Act, and it plans to let investors carry losses forward for three years during the delay.