Overview
- The Finance Ministry, which spoke at a National Assembly forum Thursday, confirmed a 22% levy on annual crypto profits above 2.5 million won (about $1,800) starting January 1, 2027.
- The National Tax Service will publish detailed rules before the end of 2026 and is working with Upbit, Bithumb, Coinone, Korbit, and Gopax to standardize transaction reporting.
- The first full filing covering 2027 income is due in May 2028, and exchanges are expected to provide records for trades, transfers, and lending income.
- Officials defended the rollout by citing the 2020 Income Tax Act as the legal basis and rejected calls from some lawmakers, including a People Power Party push, to scrap or delay the plan.
- Separately, a new foreign‑exchange law will require firms that move crypto overseas to register as “virtual‑asset transfer services,” and proposed Travel Rule expansions could add more checks and delays for users.