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South Korea plans to tax cryptocurrencies in 2023

December 3, 2021
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South Korean lawmakers postponed plans to tax virtual assets until 2023 at a plenary meeting on Thursday.

From January 1, 2022. The proposed tax will impose a 20% tax on crypto gains in excess of 2.5 million won ($2,122) in a year.

Local analysts said. Legislators from the ruling and opposition parties are trying to attract voters in their 20s and 30s. They are more likely to become cryptocurrency investors. Therefore, the proposed tax was opposed before the presidential election in March.

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