South Korea Ruling Party Proposes Another Bill to Delay Crypto Tax

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South Korea’s ruling People Power Party plans to propose another bill to delay taxation on virtual assets, or cryptocurrencies.

Edaily reported on August 13 that People Power Party lawmaker Kim Sang-hoon plans to introduce as early as this month a proposed amendment to the income tax law that would postpone taxation on crypto investment income by two years, from January 2027 to January 2029. The bill is currently under review by the National Assembly Secretariat’s Legislative Office, the report said.

It would be the second crypto tax deferral bill from the People Power Party. On August 10, party lawmaker Jeong Seong-guk proposed a separate amendment to delay the start of taxation on crypto investment income by three years, from January 2027 to January 2030.