News with the tag "South Korea crypto tax"

South Korean Parliament Cancels Plenary Session Amid Crypto Taxation Dispute The South Korean National Assembly canceled its Nov. 26 plenary session, where crucial decisions on crypto taxation were expected to be addressed, according to Yonhap Infomax. The postponement follows a disruption in the ta...

South Korea’s Ruling Party Leader Urges Delay in Crypto Taxation, Calls for Fair System The debate over cryptocurrency taxation in South Korea has intensified, with Han Dong-hoon, leader of the ruling People Power Party, calling for a reassessment of the country’s tax policies on virtual assets. Spe...

Korea’s Ruling Party Pushes for Two-Year Delay on Crypto Tax Plan The leader of South Korea’s People Power Party (PPP), Han Dong-hoon, has announced plans to delay the implementation of a capital gains tax on cryptocurrency investments by two years. Speaking at a parliamentary meeting on November 21...

South Korea’s Opposition Pushes for Higher Crypto Tax Exemption Limit In a move to address the growing concerns of cryptocurrency investors, South Korea’s opposition Democratic Party of Korea (DPK) is proposing an increase in the crypto tax exemption limit to 50 million won ($35,900). This represent...

South Korea’s Democratic Party argued that increasing the threshold to 50 million won ($36,000) would mean only big players would be affected.

South Korea’s Opposition Party Rejects Proposal to Delay Crypto Taxes Until 2027 The Democratic Party of Korea, South Korea’s opposition party, has voiced its opposition to delaying the planned capital gains tax on virtual assets until 2027. Noh Jong-myun, the floor spokesperson for the Democratic P...

The petition requesting the South Korean government to postpone taxation on cryptocurrency gains has gained over 10,000 signatures so far.

A deputy minister from the tax office in South Korea said that the National Assembly should discuss abolishing the tax on crypto asset gains.