South Korea has delayed the planned 20% tax on crypto earnings for another 2 years.
The country has delayed its 20% crypto tax for another two years, according to a statement released on Thursday by Ko Kwang-hyo, Head of Tax Policy at South Korea’s Ministry of Economy and Finance. The tax law was originally scheduled to come into effect on January 1, 2023. Now this date has been postponed to 2025. The tax in question was postponed to 2023 due to intense reactions from investors.
The announcement came as part of Chairman Yoon Suk-yeol’s new economic policy roadmap, who said that the crypto tax should come after adequate market infrastructure has been prepared.
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