South Korea Considers Extending Crypto Tax Until 2028: Key Information Summary

* South Korea's ruling People's Power Party has submitted a bill to postpone the taxation of cryptocurrency gains to January 1, 2028.

* The original plan was to start taxing in 2025, but the plan has been postponed twice due to negative sentiment towards cryptocurrencies.

* South Korea will impose a 20% tax on cryptocurrency gains, but the proposal argues that the establishment of a comprehensive cryptocurrency regulatory framework should precede any tax implementation.

* There are currently about 6.5 million cryptocurrency investors in South Korea, and the Korean won has also become one of the most commonly used fiat currencies in cryptocurrency transactions.

* The South Korean government has not announced further postponement of the cryptocurrency tax plan, but it is expected to announce possible changes in tax laws by the end of this month.

* The South Korean government remains committed to establishing a sound regulatory environment for cryptocurrencies.

What does this mean for Korean cryptocurrency investors?

* They will get more time to take advantage of the cryptocurrency market.

* They may have to wait longer to understand the specific tax rules for cryptocurrency gains.

* The government may implement stricter cryptocurrency regulations in the future.