South Korea's Ruling Party Considers Opinions on Cryptocurrency Taxation

The leader of South Korea's ruling Democratic Party, Kim Min-seok, stated that they are gathering opinions from various parties regarding the taxation of cryptocurrency assets and are pushing for the National Assembly and the government to seek reasonable solutions. The cryptocurrency tax is set to be implemented on January 1, 2027, with a tax rate of 22% (including local income tax) on the income from the transfer and lending of cryptocurrency assets, which has already been postponed three times. South Korea's Deputy Prime Minister and Minister of Economy and Finance, Lee Hyoung-il, stated in the National Assembly on October 6 that they will broadly listen to the opinions of the National Assembly, experts, and the industry.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.