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South Korea to meet five major crypto exchanges on 20 Oct over virtual asset tax

NewsFeeds update

South Korea's government will meet Upbit, Bithumb, Coinone, Digital X, GOPAX and DAXA on 20 Oct to hear views on a virtual asset tax due next year, which would levy 22% income and local tax after a 2.5m won exemption. The policy has been postponed three times since 2020, and the industry wants another delay.

RegulationPANewsAIBearish

Read the original on PANews

The story so far: South Korea crypto tax delay debate

South Korea's virtual asset tax, postponed three times since 2020, is under debate with exchanges and lawmakers seeking another delay. The PPP said it would seek agreement with the Democratic Party on taxing virtual assets. The Blue House now leans towards a fourth delay, with proposals pushing taxation to 2029.

  1. South Korea to meet five major crypto exchanges on 20 Oct over virtual asset tax

    South Korea's government will meet Upbit, Bithumb, Coinone, Digital X, GOPAX and DAXA on 20 Oct to hear views on a virtual asset tax due next year, which would levy 22% income and local tax after a 2.5m won exemption. The policy has been postponed three times since 2020, and the industry wants another delay.

    RegulationPANewsAIBearish

  2. South Korean exchanges push for further delay to crypto tax

    South Korea's finance ministry officials were due to meet major exchanges, including Upbit, Bithumb and Coinone, to discuss the crypto tax, which has been delayed three times, most recently to 2027. Democratic Party lawmaker Park Min-gyu has proposed starting the levy in 2029.

    RegulationOdailyAIBullish

  3. South Korea's virtual-asset tax may slip again before 1 January start

    South Korea's planned virtual-asset tax, due to start on 1 January, could be postponed again, The Asia Business Daily reported. The Ministry of Economy and Finance is due to attend a ruling-party parliamentary forum on 2 November to discuss the regime.

    RegulationCoinNessAIBullish

  4. South Korea's PPP says it will seek deal with Democratic Party on digital asset taxation

    South Korea's People Power Party will seek agreement with the ruling Democratic Party on taxing virtual assets, deputy policy chief Park Soo-young said on 21 Oct. He said the outcome is hard to predict because the Democratic Party has not made its position party policy.

    RegulationCoinNessAINeutral

  5. South Korea's Blue House leans towards fourth delay of 22% crypto income tax

    South Korea's Blue House is leaning towards postponing the virtual asset income tax due to start on 1 January 2027, which would be its fourth delay, though it says no decision has been made. Ruling party lawmaker Park Min-kyu has proposed pushing taxation to 2029, and the opposition People Power Party also backs a delay.

    RegulationPANewsAIBullish

More Regulation updates

  1. South Korea's Blue House leans towards fourth delay of 22% crypto income tax

    RegulationPANewsAIBullish

  2. 22 companies object to OKX-ICE tokenised stock platform, filing shows

    RegulationOdailyAIBearish

  3. Latvia plans RWA tokenisation rules in first half of 2027, minister says

    RegulationOdailyAIBullish

Every Regulation update on NewsFeeds

Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Updates are joined into one story by AI; our editors can change a story’s name or take an update out. Not investment advice.