Why does South Korea want to delay its crypto tax until 2029?

South Korea’s presidential office has backed another postponement of the country’s planned 22% cryptocurrency gains tax, with lawmakers considering moving its January 2027 start date to 2029. Summary South Korea’s presidential office has backed another delay to its planned 22% cryptocurrency gains tax. The tax remains scheduled for January 2027, but ruling-party lawmakers have proposed moving it to 2029. Officials cited incomplete preparations, concerns among younger investors and gaps in overseas transaction reporting. Both major political parties support postponement, although they have proposed different approaches. Lawmakers could consider amendments in November, following consultations between the government and ruling party. According to an October 25 report, an official confirmed that discussions had moved toward delaying implementation because the government was not fully prepared to collect the tax. The presidential office considered concerns among younger investors and difficulties obtaining transaction information from overseas cryptocurrency platforms. “The discussion has moved toward delaying implementation of the crypto tax,” the official said, according to the report...