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South Korea's Crypto Tax: 22% on Gains, 2027 Start
Description
South Korea Announces 22% Crypto Tax, Sparking Industry Backlash
South Korea has confirmed a 22% tax on crypto gains, effective January 1, 2027. The tax applies to profits from trading or lending virtual assets, with a 2% local tax added for those earning over $1,800 annually. The tax service is currently drafting guidelines, meeting with major exchanges like Upbit and Bithumb. The crypto industry is also pushing back against new anti-money laundering rules. Korean traders should start planning for the tax impact next year.
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