Regulation· ★★★· neutral·

Korean lawmaker Park Soo-young calls to delay crypto tax until infrastructure is ready

  • —South Korea's crypto tax is scheduled to start on January 1
  • —Park says the government does not know the number of taxpayers or expected revenue
  • —Differing CARF timelines in the US, Hong Kong and Singapore could concentrate the tax burden on Korean exchange users
  • —Park warned one or two of the top five domestic exchanges could close
Why it matters: A delay would ease pressure on Korean exchanges and their users, while prolonged uncertainty could weigh on the local market.
Source: Bloomingbit