South Korean lawmaker urges government to formally delay crypto tax
- —Park said fair taxation is impossible without finalized rules and IT systems
- —Five major exchanges and the tax agency exchanged 49 letters with no resolution
- —Delayed CARF participation risks concentrating the tax burden on Korean exchange users
- —Capital inflows to domestic exchanges have roughly halved, he said
Why it matters: The decision sets the timeline for South Korea's 22% crypto gains tax and how it will be enforced.
Source: Bloomingbit