South Korean Lawmaker Calls for Scrapping Planned Crypto Gains Tax

South Korean opposition lawmaker Song Eon-seok called for scrapping the country’s planned tax on crypto gains rather than delaying it, arguing that the plan would confuse and burden investors amid an ongoing debate over the January 2027 crypto tax. Song cited the difference in tax treatment between crypto gains and gains from domestic stocks, which would be exempt.

Song also pointed to difficulties identifying overseas transaction data and determining the original purchase prices of crypto holdings. He said those issues would add confusion and burdens for investors.

The 22% tax is scheduled to take effect Jan. 1, 2027. The government and ruling party announced plans earlier this month to postpone it until 2029, which would mark the fourth delay.