The ruling party in South Korea has decided to go ahead with the implementation of a tax on cryptocurrency gains in 2025, instead of delaying its introduction again.
Originally planned for 2022, the 20% tax rate (22% with local tax) has been postponed twice due to criticism from investors and experts.
Despite discussions about an even later start date, the Democratic Party of Korea has decided to keep the original schedule.
However, they are making adjustments to the plan by increasing the tax deductible limit for earnings below 2.5 million Korean won ($1,795) to 50 million won ($35,919).