Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»South Korea proposes delaying tax on cryptocurrency profits until 2028
ADOPTION NEWS

South Korea proposes delaying tax on cryptocurrency profits until 2028

By Crypto FlexsJuly 15, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
South Korea proposes delaying tax on cryptocurrency profits until 2028
Share
Facebook Twitter LinkedIn Pinterest Email
Policy • July 15, 2024 1:01 AM EDT

Posted 1 minute earlier In ~

South Korea’s right-wing political party has proposed a three-year delay in taxing cryptocurrency profits. If passed, the tax on cryptocurrency profits in South Korea would be delayed from early 2025 to 2028.

“Investor sentiment towards cryptocurrencies is currently negative, and most investors are expected to leave the market if the country imposes income taxes on assets that are riskier than stocks,” reads the bill’s description on the National Assembly website. saidThe bill was proposed last Friday.

The 20% tax on cryptocurrency profits was originally set to take effect on January 1, 2022, but has been pushed back twice to January 1, 2025, due to strong opposition from investors and industry experts.

The People Power Party, a right-wing political party in South Korea that currently includes President Yoon Seok-yeol, Promised in the last general election To defer cryptocurrency profits tax.

According to local news, reportThe country’s Ministry of Economy and Finance has said it has not made a decision on further deferral of cryptocurrency taxes. The ministry is expected to announce new amendments to the tax code later this month.

The country has one of the largest and most active cryptocurrency markets in the world, with about 6.5 million citizens, or 12.5% ​​of the country’s population, using cryptocurrencies as of the end of last year. Financial Services Commission. Korean Won The most widely used fiat currency According to Kaiko data, cryptocurrency trading in US dollars will increase by 40% in the first quarter of 2024.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

About the Author

Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He was previously a reporter at Forkast.News, where he actively covered the downfalls of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong, and China. He holds a Bachelor of Arts in Journalism and Business Marketing from the University of Hong Kong.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

SOL Leverage Longs Jump Ship, is it $ 200 next?

September 24, 2025

Bitcoin Treasury Firm Strive adds an industry veterans and starts a new $ 950 million capital initiative.

September 16, 2025

The best Solana depin project to form the future -Part 2

September 8, 2025
Add A Comment

Comments are closed.

Recent Posts

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025

LYS Labs Moves Beyond Data And Aims To Become The Operating System For Automated Global Finance

September 26, 2025

Dexari Unveils $1M Cash Prize Trading Competition

September 26, 2025

How to solve the XPL perp defect

September 26, 2025

Detect the full execution bug with the induction pursing of Wake

September 25, 2025

KuCoin Appeals FINTRAC Decision, Reaffirms Commitment To Compliance

September 25, 2025

Phemex Revamps Blog To Deliver Deeper Insights And Enhanced Reader Experience

September 25, 2025

T-REX Launches Intelligence Layer To Fix Web3’s Value Distribution Problem

September 25, 2025

Are you doing a fair deal?

September 25, 2025

The method of transforming ASTER WHALES into panic is as follows.

September 25, 2025

Hyperliquid launches USDH Stablecoin issued by Native Markets

September 25, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025

LYS Labs Moves Beyond Data And Aims To Become The Operating System For Automated Global Finance

September 26, 2025

Dexari Unveils $1M Cash Prize Trading Competition

September 26, 2025
Most Popular

The decentralized data storage Altcoin soared more than 100% this week following the testnet launch of a new network project.

March 2, 2024

Montai Therapeutics leverages NVIDIA NIM for multimodal AI drug discovery.

September 27, 2024

Analysis of MANTA’s 6% price crash – why forecasts are bearish

February 1, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.