South Korea is once again preparing to tax cryptocurrency profits, setting up another political battle over investor protection, overseas trading and the future of digital asset regulation.
The proposal would impose a 20% national tax on annual crypto gains exceeding 2.5 million won (about $1,740), with an additional local income tax bringing the effective rate to 22%. The government has repeatedly postponed the measure since it was first scheduled to take effect in 2022, but officials now say they intend to move forward without another delay, South Korea's Ministry of Economy and Finance and the National Tax Service have said.
