South Korea Delays Crypto Gains Tax Again, Now Until 2029

South Korea has postponed its long-awaited cryptocurrency gains tax for a fourth time, pushing the effective date from January 2027 to 2029. The 22% levy applies to annual crypto profits above 2.5 million won (about $1,870), combining a 20% national tax and a 2% local tax. First proposed in 2020 and originally due in 2022, the tax has now been delayed three times. Finance Minister Lee Hyung-il announced the decision after a proposal by Democratic Party leader Kim Min-seok, though it still requires National Assembly approval. Seoul cited the U.S. not exchanging crypto tax information until 2029 and the need to refine the tax framework. Meanwhile, Hong Kong has passed a crypto tax reporting law under the OECD framework, highlighting diverging regulatory speeds in Asia.