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South Korean legislators agree to delay taxation of cryptocurrency capital gains
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Recurring regulatory hurdles over the past year have had a deep impact on South Korea’s booming cryptocurrency industry. Many exchanges and businesses have had to shut shop in the country. Another source of uncertainty had been the looming plan for taxation on cryptocurrency gains, which were set to take effect next year.
As it turns out, crypto taxes might still be a long way off, as their imposition has been delayed to 2023. The ruling and opposition parties in the country reached an agreement on Monday, possibly to not disgruntle young investors set to vote in the presidential election next year, according to local media.
Rep. Noh Woong-rae of the ruling Democratic Party of Korea (DPK) told the media that proposal to revise the Income Tax
Read more on ambcrypto.comAbout this in other media
South Korea intensifies tax-evasion probe; crypto investment firm under investigation ambcrypto.com /3 years ago
Korean crypto investment firm Hashed reportedly under tax investigation cointelegraph.com /3 years ago
Crypto Fans Build Up Their Power as S Korean Politicians Delay Crypto Tax cryptonews.com /3 years ago
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