South Korean Lawmakers Propose Repeal of 22% Crypto Tax

2026-03-19 17:42

South Korea's main opposition party has proposed a bill to repeal the planned 22% tax on cryptocurrency gains, set to take effect in 2027. The proposal, introduced by Song Eon-seok, seeks to amend the Income Tax Act to eliminate taxation on digital asset profits. The current tax plan includes a 20% national tax and a 2% local tax on crypto trading profits exceeding 25 million KRW (approximately $16,650). Initially scheduled for 2022, the tax implementation has faced delays due to industry and investor opposition.

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