South Korea Confirms Crypto Tax From January, but Preparations Raise Questions

• —Tax: 20% on income above 2.5 million won per year, or 22% including the local tax
• —Government: 85% of investors hold assets worth less than 5 million won, so the burden is minimal
• —A petition to delay the tax by 2 years has gathered more than 50,000 signatures
• —The opposition has introduced bills to repeal the tax and postpone it to 2029