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South Korean Political Parties in ‘De Facto Agreement’ over Crypto Tax Delay
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The protracted political struggle over the South Korean crypto tax has entered a new – and possibly decisive chapter – with the major parties reaching a “de facto consensus” over a delay that could see traders allowed to transact tax-free until 2024.
As reported, both major parties have pledged to dump their hardline stance on crypto in what most analysts agree is a concerted vote-grab ahead of next year’s general elections – to be held in March 2022.
The ruling Democratic Party presidential nominee Lee Jae-myung has backed a year-long delay to the tax, which is slated to launch on January 1, 2021. Unless it is unamended, a soon-to-promulgate package of tax laws will see annual crypto trading profits of over USD 2,100 taxed at a flat rate of
Read more on cryptonews.comAbout this in other media
South Korea’s Potential Next President Calls Crypto ‘A Means of Trading & Investment’ cryptonews.com /2 years ago
Korean crypto investment firm Hashed reportedly under tax investigation cointelegraph.com /2 years ago
Things to know (and fear) about new IRS crypto tax reporting cointelegraph.com /2 years ago
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