{"id":32320,"date":"2020-11-25T12:00:28","date_gmt":"2020-11-25T10:00:28","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=32320"},"modified":"2025-08-28T08:03:25","modified_gmt":"2025-08-28T05:03:25","slug":"south-korea-delays-cryptocurrency-taxation-until-2022","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/south-korea-delays-cryptocurrency-taxation-until-2022\/","title":{"rendered":"South Korea delays cryptocurrency taxation until 2022"},"content":{"rendered":"<p>The Planning and Finance Committee of the National Assembly of South Korea has proposed postponing the introduction of income tax on cryptocurrency transactions until January 2022. Local media <a href=\\\"https:\/\/www.donga.com\/news\/Economy\/article\/all\/20201124\/104133013\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">report<\/a> this.<!--more--><\/p>\n<p>Initially, authorities planned to implement the tax in October 2021. Lawmakers say the timeline shift is because cryptocurrency exchanges need more time to build an effective tax infrastructure.<\/p>\n<p>Currently, exchanges are required to complete KYC procedures for customers by September 2021 under the Special Payments Act. The amendments also <a href=\"https:\/\/u1f987.com\/en\/news\/south-korea-to-ban-anonymous-cryptocurrencies\">are expected to<\/a> ban anonymous cryptocurrencies.<\/p>\n<p>According to the report, some investors have already voiced dissatisfaction with the government&#8217;s plans to regulate the crypto market.<\/p>\n<p>As reported in December 2019, plans by the South Korean government to tax capital gains on cryptocurrency trades were disclosed. The rate was expected to be 20%.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Planning and Finance Committee of the National Assembly of South Korea proposed delaying the introduction of income tax on cryptocurrency transactions until January 2022. Local media report this.<\/p>\n","protected":false},"author":1,"featured_media":32321,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,974,558],"class_list":["post-32320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-south-korea","tag-taxes"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=32320"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32320\/revisions"}],"predecessor-version":[{"id":32322,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32320\/revisions\/32322"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/32321"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=32320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=32320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=32320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}