South Korea Weighs Fourth Delay of Crypto Tax to 2029

South Korean officials are weighing a fourth delay of the country's crypto gains tax, moving the start from January 1, 2027 to January 1, 2029, according to reports on October 26 by The Block and Bitcoin.com, citing Korean outlets Newsis and Business Korea. No official decision has been made.

Details

The Block reports that presidential office officials called the lack of U.S. trading data the biggest bottleneck for taxing crypto. Park Min-gyu, a lawmaker from the ruling Democratic Party, has introduced a bill setting January 1, 2029 as the start date. The reasoning ties to the OECD's Crypto-Asset Reporting Framework (CARF): South Korea begins data exchange in 2027, while U.S. participation is expected only in 2029.

The tax was first scheduled for 2022 and has been postponed three times since. The rate is 22% including local tax, with an annual deduction of 2.5 million won (about $1,800⁠–⁠1,900), per both outlets. Bitcoin.com adds that finance ministry officials met five major exchanges and the DAXA exchange alliance on October 20, while the opposition People Power Party has proposed pushing the tax to 2030 or scrapping it.

According to The Block, a final decision is expected between late November and early December 2026.

What this means for the market

For Korean traders, among the most active in altcoins, a delay would mean two more years without a tax on crypto profits. It rarely moves prices directly, but it shows regulators waiting for common international reporting rules before taxing gains.

Until a delay is approved, the January 1, 2027 date stands. For the live bitcoin price, see the daily brief and the Bitcoin page.