South Korean Government Considers Postponing Crypto Income Tax

The presidential handover committee of the new group of Yin Xiyue’s government is considering delaying the implementation date of the new crypto income tax law from 2023 to early 2024.

The new version of the Income Tax Act of the South Korean National Assembly at the end of 2020 plans to impose a 20% capital gains tax on investors who earn more than 2.5 million won from cryptocurrency investments every year, and then postpone it until January 1, 2023.