The delay came just a few months after the newly elected president named Yoon Suk-yeol promised on working first on regulations. The government of South Korea reportedly postponed the 20 percent tax on crypto gains by two years. This controversial 20 percent tax on cryptocurrency gains was about to come into impact on 1st January next year. But it got postponed till 2025. Trade Cryptos stablecoins and other coins on the most trusted platform bitcoin trader software
The government officials declared their plans for new tax reform deferring the policy of crypto tax to 2025. They cited stagnant market conditions and the time needed for the investment protection measure's preparation. The initial plans to impose an extra 20 percent on cryptocurrency gains exceeding 2.5 million won in a 1 year period stayed unchanged.
