South Korea’s Democratic Party agrees to delay crypto tax by 2 years
South Korea’s Democratic Party previously pushed back against another delay, saying it was a political trick by the ruling party.
South Korea’s Democratic Party has backtracked on its push to implement the country’s crypto gains tax in 2025, agreeing to another two-year delay.
In a press conference on Dec. 1, the Korea Democratic Party (KDP) floor leader, Park Chan-dae, announced that the KDP agreed to a two-year moratorium on the implementation of digital asset capital gains tax proposed by the government and the People’s Power Party (PPP), the ruling party.
The law taxing crypto gains in the country is scheduled to come into effect in January. However, the new development will push the implementation of the tax by 2027.
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Author: Ezra Reguerra
