Business

Korean Finance Minister vows to fight moves to delay the crypto tax code By Cointelegraph

Korean Finance Minister vows to fight moves to delay the crypto tax code

South Korea’s Minister of Strategy and Finance, Hong Nam-Ki has vowed that the controversial crypto tax code will come into effect on January 1st, 2022 despite moves this week by the majority Democratic Party to postpone it to 2023.

The tax code will levy a 20% tax on income generated by crypto transactions in excess of 2.5 million KRW, or about $2100 USD.

Democratic Party amendment

Long history