Breaking: South Korean Ruling Party Considers 3-Year Grace on Crypto Taxes

Quick Summary:

A local news publication in South Korea recently reported that the current ruling government is considering postponing the implementation of crypto tax for an additional three years.

Thus, instead of January 2025, the Korean government won’t tax crypto capital gains further until January 2028.

Despite the government’s announcement to abolish the tax, former Democratic Party of Korea leader Lee Jae-myung stated on the 10th of this month that “we need to think more about the timing of implementation.

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Article Details

Author / Journalist: Bhushan Akolkar

Category: Crypto

Markets: IndiaSouth Korea

Topics: South Kore Regulation News South Korea FSC Crypto tax 24/7 Cryptocurrency News Crypto Taxation

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-15 @ 03:50:41 (3 days ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 424 words

Reading Time: 3 minutes read

Sentences: 37 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 21621744

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News Last Updated: 11 hours ago

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