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South Korea Crypto Tax Delay Could Boost Bitcoin Adoption Until 2029
South Korea’s crypto tax delay could become an encouraging development for Bitcoin investors as the government seeks to postpone its planned cryptocurrency gains tax for another two years. Finance Minister Lee Hyoung-il announced on November 5 that authorities will work with lawmakers to move the tax’s implementation from January 2027 to January 2029.
Dextape brief
South Korea's government wants to delay its planned tax on crypto gains by two years, moving the start date from January 2027 to 2029. Finance Minister Lee Hyoung-il said on November 5 that authorities will coordinate with lawmakers on the change. Parliament must still vote before the date can be formally moved. Officials plan to use the extra time to upgrade tax reporting systems, bolster investor safeguards and draft broader digital asset legislation. The plan also proposes a three-year loss carryforward, letting investors apply earlier losses against later taxable gains. Current rules put gains above 2.5 million won a year at 22 percent including local income tax. Authorities also intend to start sharing crypto tax data with the US in 2029.
Why it matters: The longer timeline gives investors, exchanges and financial institutions more room to prepare reporting systems and understand future rules, which matters to anyone following South Korea's crypto market.
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