South Korea’s Democratic Party said increasing the tax threshold to 50 million won ($36,000) would mean only big players will be affected.
South Korea’s Democratic Party is pushing forward with its plan to tax crypto gains at the start of 2025, but is also offering to increase the threshold for taxable gains.
On Nov. 20, local media outlet Seoul Shinmun Daily reported that the Korea Democratic Party (KDP) had challenged the People’s Power Party’s (PPP) plan to delay crypto tax to 2028.
PPP, the country’s ruling political party, proposed on July 12 to delay the taxation of crypto gains to 2028. The KDP said that the PPP’s crypto tax deferral plan was a political trick that they aimed to re-use in future elections.
