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South Korea plans to postpone its cryptocurrency gains tax by two years, moving implementation from January 2027 to January 2029, Finance Minister Lee Hyoung-il said on November 5. The government will work with lawmakers to enact the delay, which could support Bitcoin (BTCUSD) adoption through the extended tax-free window.
South Korea Moves to Delay Crypto Gains Tax to 2029
South Korea is seeking to postpone its planned cryptocurrency gains tax by two years, according to Finance Minister Lee Hyoung-il.
Lee announced on November 5 that authorities will work with lawmakers to move the tax’s implementation from January 2027 to January 2029.
Government to Work With Lawmakers
The delay requires cooperation with lawmakers to be enacted, the minister said. The government intends to pursue that legislative path to shift the start date.
Potential Impact on Bitcoin
The postponement could be an encouraging development for Bitcoin investors, extending the period before crypto gains are subject to the tax.
The source material identifies Bitcoin (BTCUSD) as the asset affected by the policy discussion.