According to BlockBeats, the South Korean government and the ruling party are contemplating postponing the inclusion of cryptocurrency investment profit tax in next year's tax revision proposal. If approved, the taxation on cryptocurrency investment gains will be delayed from January 2025 to January 2028. The government is expected to confirm its stance later this month when it announces next year's revised tax law.
Previously, during the administration of Moon Jae-in, the South Korean National Assembly passed a tax bill that was set to begin taxing cryptocurrency profits in October 2021. However, due to the upcoming presidential election the following year, the implementation was postponed to January 2023. Under the administration of Yoon Suk-yeol, the date was further delayed to January 2025. The primary reasons cited for these delays were concerns that taxation would increase the burden on investors and disrupt the market.