South Korea Considers Pushing Crypto Tax Deadline to 2029

The proposed postponement stems from a lack of reliable data from overseas platforms, which officials fear could lead to uneven enforcement between domestic and international traders. While the National Tax Service has been preparing to tax annual profits exceeding 2.5 million won, the government acknowledges that its systems for cross-border transaction transparency remain insufficient. By aligning the timeline with the Organisation for Economic Co-operation and Development’s 2029 reporting standards, Seoul hopes to avoid a scenario where local investors are penalized while those using foreign services remain outside the net.

Political support for the delay is widespread, though the approach varies between the ruling Democratic Party and the opposition. Lawmakers are expected to deliberate on the legislative amendments throughout November. Until a formal vote passes in parliament, the current law remains on the books for January 2027, leaving major exchanges like Upbit and Bithumb in a state of continued regulatory uncertainty regarding staking, airdrops, and decentralized finance activity.