South Korea’s ruling party considers further delaying cryptocurrency tax to 2027 during general election

The ruling party in South Korea is pushing for a two-year delay in taxing cryptocurrency investment returns, in order to gain support in the upcoming April election campaign. The right-wing party stated that it will prioritize establishing a basic regulatory framework for cryptocurrency before implementing the cryptocurrency tax, and plans to propose new regulations for the cryptocurrency industry during the upcoming term.

It is reported that South Korea's cryptocurrency capital gains tax, which was originally scheduled to begin on January 1, 2023, has been delayed and is currently planned to take effect on January 1, 2025. The potential new delay would push the tax plan back to 2027.