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South Korean lawmakers push to abolish upcoming 22% cryptocurrency tax

South Korean lawmakers push to abolish upcoming 22% cryptocurrency tax

2026-03-19 17:36

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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

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