South Korea’s ruling party seeks to delay crypto gains tax to 2029

Lawmakers seek another two-year postponement

South Korea’s ruling Democratic Party is seeking to move the start of a tax on cryptocurrency gains from January 2027 to 2029, according to CoinDesk. The proposed delay has not been approved and would be the tax’s fourth postponement.

Democratic lawmakers on the National Assembly’s Strategy and Finance Committee agreed on Nov. 3 to recommend a deferral to party leaders, local media reported.

The tax and the competing positions

• Current law sets a Jan. 1, 2027 start for a 20% tax on annual crypto profits above 2.5 million won, plus a 2% local levy.
• The tax was originally scheduled for 2022 and has already been delayed three times, according to the Korea Times report cited by CoinDesk.
• Finance Minister Lee Hyoung-il supports implementation on schedule, while exchange group DAXA has requested a delay.

Reporting systems and digital asset rules need preparation

Oh Gi-hyoung, the Democratic Party’s secretary on the committee, said lawmakers supported the principle of taxing income but believed more preparation time was needed. He described roughly two years as the period most were discussing.

One reason cited for the delay is an international crypto tax information-sharing system expected in 2029. The underlying report did not identify that system. CoinDesk suggested it might be the OECD’s Crypto-Asset Reporting Framework, but that connection remains unconfirmed.

Lawmakers are also waiting for the General Act on Digital Assets. Oh said the legislation could arrive in the first half of 2027, though that timing is not certain. The party also wants to test data sharing between the National Tax Service and crypto exchanges, platforms where users trade digital assets, and run tax simulations using actual transaction records.

The existing deadline remains in place

The reported committee agreement is a recommendation, not a change to the law. The January 2027 start date therefore remains the current legal deadline.

The party plans to include the proposed deferral in discussions on Income Tax Act amendments at a future tax subcommittee meeting. The supplied report gives no date for that meeting or a final decision.

Reporting sources

• CoinDesk — report by Omkar Godbole, published Nov. 4, 2026.
• Financial News — local report linked by CoinDesk.