South Korea November tax law review on crypto tax delay

In November 2026, South Korean lawmakers are expected to consider amendments that could push back the start of the country's 22% tax on cryptocurrency gains from January 2027 to January 2029. The timing within the month and the final agenda are not confirmed, and no specific coins are named.

What is happening

South Korea's presidential office has backed another postponement of the planned crypto gains tax, according to an October 25 report. An official said the discussion has moved toward delaying implementation because the government is not fully prepared to collect the tax. Cited concerns include the difficulty of obtaining transaction data from overseas exchanges and privately controlled wallets, as well as sentiment among younger investors.

The ruling Democratic Party has already introduced legislation proposing a January 2029 start date. Opposition People Power Party lawmakers have also supported postponement, although some have pushed for a later deadline or outright repeal. Democratic Party leader Kim Min-seok previously said the issue "needs to be settled this year." Consultations between the presidential office, the government and the ruling party are expected after October's parliamentary audit ends, and lawmakers could then take up changes during the November tax law review.

The tax was introduced in 2020 with a January 2022 start and has since been delayed to 2023, 2025 and then January 2027. A further delay would be the fourth. Under the current framework, annual profits from selling or lending crypto are taxed at a combined 22% (20% national and 2% local income tax) after a 2.5 million won allowance. Until Parliament passes an amendment, the January 1, 2027 start date remains legally in force.

Why it matters

For investors on domestic platforms such as Upbit and Bithumb, the outcome determines whether qualifying gains realized in 2027 become taxable. Officials have raised fairness concerns: without sufficient data from foreign platforms, domestic exchange users could face more consistent enforcement than those trading abroad. Industry representatives have warned that uneven reporting could push trading activity away from local exchanges.

Traders and holders should note that the presidential office's position does not itself change the law, and the review's outcome is not guaranteed. The presidential office has not released estimates of how a delay would affect tax revenue, trading volumes or collection costs. Watch for the agenda and results of the November review, any amendment text on the start date, and progress on international crypto transaction information-sharing, which South Korea expects to begin in 2027.

Key details

• Date: November 2026 (exact day not specified)
• Project: South Korean National Assembly
• Coins: none specified
• Category: Governance Vote
• Status: tentative; date and outcome not confirmed
• Location: Seoul, South Korea
• Source: crypto.news (https://crypto.news/south-korea-crypto-tax-delay-2029/)