Key facts
- South Korea plans to meet with major crypto exchanges on Tuesday.
- Calls to postpone the cryptocurrency tax are increasing.
- The tax is currently scheduled to be implemented in January.
- A lawmaker introduced a bill to postpone the tax until 2029.
- Unresolved transaction rules and infrastructure preparation time are cited as reasons for postponement.
Senior finance officials in South Korea are reportedly scheduled to meet with representatives from major cryptocurrency exchanges on Tuesday to discuss delaying the implementation of a planned cryptocurrency tax. The meeting comes as calls to postpone the tax, currently set to begin in January, gain momentum. Lawmaker Park Min-gyu of the Democratic Party of Korea introduced a bill on Friday that would push the tax's start date back to January 1 of the second year after South Korea begins data sharing under the OECD's Crypto-Asset Reporting Framework (CARF), which would place taxation in 2029. Exchange officials cited unresolved transaction rules and insufficient time for infrastructure preparation as reasons supporting a postponement. South Korean regulators have previously delayed the crypto tax three times, with the latest delay setting the start date to 2027 due to political disagreements and industry pushback.