TechFlow news, on December 2, according to The Block, South Korea's largest opposition party, the Democratic Party of Korea, has agreed to postpone its plan to tax cryptocurrency gains for another two years. The tax policy was originally set to take effect on January 1, 2025, imposing a 20% income tax (22% including local taxes) on cryptocurrency gains exceeding 2.5 million Korean won (approximately $1,784). This marks the third time since 2021 that South Korea has delayed implementing this policy. Previously, the Democratic Party had proposed raising the tax-free threshold to 50 million Korean won (approximately $35,714).
Previous report, BitMEX co-founder Arthur Hayes posted: "The bull market can continue—South Korean capital gains tax postponed by two years."
