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<h3 id="in-brief">In Brief:</h3>
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   <li>South Korea considers postponing its cryptocurrency gains tax until 2029, marking a fourth delay amid taxation infrastructure and investor concerns.</li>
   <li>Differences between South Korea and US cryptocurrency reporting schedules under CARF complicate overseas transaction monitoring and international tax enforcement efforts.</li>
   <li>Lawmaker Park Min-gyu proposes a 2029 implementation date, while government consultations and upcoming National Assembly discussions will determine final approval.</li>
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 <p>South Korea could postpone its cryptocurrency gains tax until 2029, marking a fourth delay to legislation initially scheduled for 2022. <a href="https://www.newsis.com/view/NISX20261025_0003840116" rel="noopener noreferrer nofollow">According to local news outlet Newsis</a>, the presidential office is consulting government agencies about extending the implementation deadline.</p><br>
 <p>The proposed adjustment would move the tax introduction from January 1, 2027, to January 1, 2029, amid overseas reporting concerns. Authorities have not reached a final decision, while lawmakers prepare to examine possible amendments to existing tax legislation.</p><br>
 <p>South Korea introduced its cryptocurrency tax framework in 2020 through amendments to the Income Tax Act. Under the proposal, investors would face a 22% tax, including local taxes, on annual cryptocurrency gains exceeding 2.5 million won.</p><br>
 <p>The threshold represents approximately $1,888, while the levy would cover profits from cryptocurrency transfers and lending activities. Previous implementation attempts faced opposition from investors and industry representatives who questioned the country’s taxation infrastructure and investor protections.</p><br>
 <p><strong>Also Read: </strong><a href="https://36crypto.com/big-news-ripple-and-aviva-investors-launch-tokenised-share-class-for-22-billion-fund-on-xrp-ledger/" rel="noopener noreferrer nofollow">Big News: Ripple and Aviva Investors Launch Tokenised Share Class for £22 Billion Fund on XRP Ledger</a></p><br>
 <h2 id="us-crypto-reporting-timeline-raises-concerns-over-south-korea-s-2027-tax-deadline">US Crypto Reporting Timeline Raises Concerns Over South Korea’s 2027 Tax Deadline</h2>
 <p>The latest discussions focus on differences between international cryptocurrency reporting schedules, particularly between South Korea and the United States.</p><br>
 <p>Newsis identified the OECD’s Crypto-Asset Reporting <a href="https://36crypto.com/south-korea-nears-crypto-law-approval-as-2027-tax-deadline-faces-growing-pressure/" rel="noopener noreferrer nofollow">Framework</a> as a major factor influencing the government’s consideration of another postponement. The framework lets participating jurisdictions automatically exchange cryptocurrency transaction information, strengthening international tax reporting and enforcement.</p><br>
 <p>South Korea plans to begin exchanging cryptocurrency transaction data under CARF in 2027, alongside several other participating jurisdictions. Meanwhile, the United States expects to begin participating in 2029, creating a two-year reporting gap between the two countries.</p><br>
 <p>A presidential office official reportedly identified the absence of American trading data as the biggest obstacle to implementing cryptocurrency taxation. Without those records, South Korean authorities would need to examine overseas cryptocurrency transactions through separate reporting procedures.</p><br>
 <p>Additionally, the reporting gap could increase compliance requirements for investors using domestic cryptocurrency exchanges and trading platforms.</p><br>
 <h2 id="south-korea-awaits-legislative-decision-on-proposed-2029-crypto-tax-deadline">South Korea Awaits Legislative Decision on Proposed 2029 Crypto Tax Deadline</h2>
 <p>Ruling Democratic Party lawmaker Park Min-gyu has introduced legislation proposing January 1, 2029, as the revised implementation date. His proposal would align South Korea’s taxation schedule with the expected introduction of American participation in CARF.</p><br>
 <p>Government agencies will review the proposed postponement before determining whether another <a href="https://36crypto.com/south-korea-nears-crypto-law-approval-as-2027-tax-deadline-faces-growing-pressure/" rel="noopener noreferrer nofollow">amendment to the Income Tax Act</a> is necessary. Meanwhile, the National Assembly expects to consider relevant tax revisions during discussions scheduled between late November and early December.</p><br>
 <p>These deliberations could determine whether cryptocurrency investors face taxation in 2027 or receive another two-year extension. South Korea’s government has not formally approved the proposed delay, leaving the existing January 2027 implementation date legally unchanged.</p><br>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://36crypto.com/south-korea-considers-fourth-crypto-tax-delay-as-2029-implementation-gains-support/">South Korea Considers Fourth Crypto Tax Delay as 2029 Implementation Gains Support</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://36crypto.com">36Crypto</a>.</p>

South Korea Considers Fourth Crypto Tax Delay as 2029 Implementation Gains Support

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