South Korea’s Democratic Party (KDP) is advocating for the implementation of a 20% tax on crypto gains starting in 2025. This follows a proposed plan by the ruling People’s Power Party (PPP) to delay the crypto tax until 2028. The KDP argues that the PPP’s delay is a political maneuver. To gain support, the KDP is willing to raise the taxable threshold for crypto capital gains from 2.5 million won (approximately $1,800) to 50 million won (about $36,000), aligning it with existing stock tax thresholds. The KDP believes that this adjustment may effectively nullify the crypto tax's impact, as few investors are expected to exceed this profit threshold. Originally scheduled for 2021, the crypto tax faced significant pushback and was postponed multiple times, now aiming for a 2025 implementation if both parties can reach an agreement.

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