{
  "id": 18276086,
  "title": "[COVER STORY] Korea seeks another crypto tax delay over gaps in overseas data and rules",
  "url": "https://urgent.news/2026/11/05/cover-story-korea-seeks-another-crypto-tax-delay-over-gaps-in",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-05T08:32:05.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times",
    "url": "https://www.koreatimes.co.kr/economy/cryptocurrency/20261105/cover-story-korea-seeks-another-crypto-tax-delay-over-gaps-in-overseas-data-and-rules"
  },
  "original_language": "en",
  "account": "Korea's Finance Minister, Lee Hyoung-il, announced on Thursday that the country plans to postpone cryptocurrency income taxation by another two years, this time to the year 2029. This comes after three previous postponements and reignites the debate surrounding tax fairness and policy credibility.\n\nDuring a briefing, Lee emphasized the need for more time to gather overseas transaction data and perfect the rules governing cryptocurrency income tax. However, the decision to postpone the tax for the second time in a month has drawn criticism for its potential impact on policy predictability and potential political motives behind the move.\n\nThe Finance Minister stated that the government would collaborate with the National Assembly to seek the delay. This announcement followed a day when the ruling Democratic Party of Korea (DPK) Chairman, Kim Min-seok, formally requested another postponement.\n\nThe proposed legislation, set to be implemented, would classify income from transferring or lending digital assets as miscellaneous income. Annual net profits exceeding a 2.5 million won ($1,900) allowance would be taxed at a rate of 22 percent, including local income tax. To calculate net profits, acquisition costs and related expenses would be deducted from proceeds.",
  "summary": "The government will seek to postpone cryptocurrency income taxation by another two years to 2029, Finance Minister Lee Hyoung-il said Thursday, renewing debate over tax fairness and policy credibility after three previous postponements. Lee said more time is needed to secure overseas transaction data and refine the rules. But the reversal, just a month after the government reiterated its…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}