South Korea Delays 22% Crypto Tax to 2029 for Fourth Time, Adds Three-Year Loss Carryforward

South Korea's Finance and Economy Minister Lee Hyeong-il said the government plans to postpone the cryptocurrency gains tax by two more years to 2029, marking the fourth delay since the levy was legislated in 2020. The 22% tax rate, including local income tax, applies to annual net income above 2.5 million won (about $1,869) from selling or lending virtual assets such as bitcoin. A new three-year loss carryforward would let losses realized in 2029 offset gains through 2032. The delay awaits U.S. trading data under the OECD-backed CARF starting in 2029 and alignment with the proposed Digital Asset Act. The National Assembly must amend the Income Tax Act before January, with detailed tax guidelines due in the first half of 2028.