South Korea Proposes Delay of Cryptocurrency Gains Tax to 2029 Linked to OECD Data Exchange
What happened
On October 15, 2026, South Korean lawmaker Park Min-kyu introduced a proposal to delay the cryptocurrency gains tax until 2029.
The Context
- Legislative Background: South Korea has postponed the 22% crypto gains tax three times since its initial 2022 target due to infrastructure and reporting challenges.
- Industry Pressure: A survey revealed that 93% of industry executives and academics support delaying the tax to allow for better reporting systems.
- International Standards: The proposed delay aligns the tax implementation with the OECD's Crypto-Asset Reporting Framework, which aims for data exchanges starting in 2027.
The Number
of surveyed South Korean digital asset executives and academics support delaying the crypto tax to 2029 or later, highlighting significant industry consensus on the need for better infrastructure.
Takeaway
As discussions continue, anticipate potential shifts in trading activity and tax strategies as the final resolution approaches.
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