The South Korean President's Office decided to postpone the cryptocurrency revenue taxation policy, which was originally scheduled to be implemented in January next year. An official from the President's Office said on the 25th: “The direction of discussions is to delay the implementation of the cryptocurrency tax.” The South Korean government decided to tax virtual asset gains as early as 2020 when the Income Tax Act was revised, but the policy has been delayed three times. The original plan was scheduled to take effect on January 1 next year, but now the President's Office has decided to delay it again on the grounds that preparations for collection and administration have not yet been completed and public opinion from young people. According to the revised Income Tax Act, a total tax rate of 22% is applied to annual income from virtual asset transfers and loans after deducting the basic allowance of 2.5 million won.

The South Korean President's Office decided to postpone the cryptocurrency revenue taxation policy, which was originally scheduled to be implemented in January next year. An official from the President's Office said on the 25th: “The direction of discussions is to delay the implementation of the cryptocurrency tax.” The South Korean government decided to tax virtual asset gains as early as 2020 when the Income Tax Act was revised, but the policy has been delayed three times. The original plan was scheduled to take effect on January 1 next year, but now the President's Office has decided to delay it again on the grounds that preparations for collection and administration have not yet been completed and public opinion from young people. According to the revised Income Tax Act, a total tax rate of 22% is applied to annual income from virtual asset transfers and loans after deducting the basic allowance of 2.5 million won.