⚡️ South Korea 🇰🇷: Legislators Postpone Cryptocurrency Tax Until 2027

⚡️ South Korea 🇰🇷: Legislators Postpone Cryptocurrency Tax Until 2027

The law imposing a capital gains tax on cryptocurrencies was set to take effect in January, but following an agreement between the ruling party and the opposition, it was decided to delay it until 2027 to prevent investors from moving to offshore platforms and instead remain in the local market, gradually adapting.

The ruling party had proposed postponing the measure until 2028, but ultimately, the opposition succeeded in setting the date for 2027.

➡️ Context: The idea of a 20% tax on capital gains from cryptocurrencies was first discussed in 2020, but the law's implementation was delayed twice. The main reason was the lack of infrastructure to manage volatile assets.

➡️ Modifications: It was finally decided to increase the tax threshold from $1,800 to $36,000 so that only large investors would be affected, avoiding an impact on smaller investors. This measure aligns with global timelines for digital asset regulation, including consumer protection and the implementation of clear rules for the issuance and exchange of tokens.

👉 In summary: The opposition continues to fight against the ruling party obtaining additional revenue from this tax, though the political landscape remains tense. If you have questions, this article explains everything very well, and here is an interesting analysis on the "Korean discount" and investment risks.

#news #Asia #crypto

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