South Korea Weighs Fourth Delay to Crypto Gains Tax, Pushing Start to 2029
Officials worry domestic exchange users would carry the tax burden while cross-border trading data from the U.S. remains unavailable until 2029.
South Korea is considering postponing its tax on cryptocurrency gains for a fourth time, a move that would push the levy's start date to 2029, according to CoinDesk. No final decision has been reported.
The delay is being weighed because Washington will not share crypto trading data with foreign tax authorities until 2029. Without that information, officials are concerned that users of domestic exchanges would end up bearing a disproportionate share of the tax burden, while activity on overseas platforms goes unseen.
A data gap at the centre of the debate
- The proposal would mark the fourth postponement of the crypto gains tax
- The start date would move to 2029 under the plan under discussion
- U.S. crypto trading data is not expected to be shared until 2029
- Officials fear domestic exchange users would absorb the burden
The levy has already been deferred several times, and the latest debate highlights how much national enforcement now depends on international reporting arrangements. Until cross-border data flows begin, Seoul faces a choice between taxing a narrower slice of activity or waiting for a fuller picture.