South Korean Lawmaker Plans Bill To Delay Crypto Income Tax To 2030

South Korean People Power Party lawmaker Chung Seong-guk plans to introduce a bill that would delay the start date for taxing virtual asset income from January 1, 2027, to January 1, 2030. According to Odaily, current rules classify income from virtual asset transfers or lending as other income and subject it to income tax, with a 22% rate applied to annual profits above 2.5 million won, including 20% in other income tax and 2% in local income tax.