South Korea Proposes to Defer Planned Crypto Tax Until 2025 T | Crypto ▪︎ Bitcoin ▪︎ Trading ▪︎ News
South Korea Proposes to Defer Planned Crypto Tax Until 2025
The tax plans for the digital asset sector were originally to kick in from January 2022. But in December 2021, the previous government deferred it for a year after massive backlash from investors. The digital asset taxation issue also figured in the Presidential poll campaigns early this year, in which the incumbent President emerged as a pro-crypto leader. The South Korean government is working on the “Digital Asset Basic Act,” a regulatory framework for the digital ecosystem in the country, and it’s likely to be introduced in 2024. The tax reforms introduced today are part of the new government’s economic policy roadmap.
