South Korean lawmakers push to abolish upcoming 22% cryptocurrency tax

South Korean lawmakers push to abolish upcoming 22% cryptocurrency tax

2026-03-19 17:36View Original

ChainThink News, March 19: According to The Block, South Korea's main opposition party has introduced a proposal to cancel the domestically scheduled digital asset taxation plan set for implementation in 2027, aiming to amend the Income Tax Act and completely abolish taxation on cryptocurrency gains. The bill was initiated by Song Eon-seok.


Currently, South Korea plans to impose a maximum tax rate of 22% on profits exceeding 2.5 million KRW (approximately $1,665 USD) from cryptocurrency trading, comprising 20% national income tax and 2% local tax. Due to strong industry and investor opposition, this tax framework, originally scheduled for rollout in 2022, has been repeatedly postponed.

Disclaimer: Contains third-party opinions, does not constitute financial advice

Recommended Reading

Circle's founder confirms Arc Network will launch a token, with further details to be disclosed later

04-14
Circle's founder confirms Arc Network will launch a token, with further details to be disclosed later

Bithumb is pushing for the re-election of current CEO Lee Jae-won to maintain operational continuity and stability.

03-22
Bithumb is pushing for the re-election of current CEO Lee Jae-won to maintain operational continuity and stability.

Following the announcement of Bithumb listing, PHA surged over 30% within a short period.

03-20
Following the announcement of Bithumb listing, PHA surged over 30% within a short period.

Upbit Adds Support for Ether.fi (ETHFI) in KRW Trading Pairs

03-19
Upbit Adds Support for Ether.fi (ETHFI) in KRW Trading Pairs

On-chain Korean ETF and Circle's largest holder initiated low-cost accumulation at the beginning of the month, with unrealized gains now nearing $2 million

03-18
On-chain Korean ETF and Circle's largest holder initiated low-cost accumulation at the beginning of the month, with unrealized gains now nearing $2 million

Samsung Electronics union members vote to strike

03-18
Samsung Electronics union members vote to strike

South Korean Financial Regulatory Service: Will Expand 100 Trillion KRW Market Stabilization Program if Necessary

03-18
South Korean Financial Regulatory Service: Will Expand 100 Trillion KRW Market Stabilization Program if Necessary