CandleFocus South Korea Debates Raising Crypto Tax Exemption to $35,900
2024-11-20
Author: Content Editor
The opposition Democratic Party of Korea (DPK) in South Korea has proposed raising the crypto tax exemption to 50 million won ($35,900), aiming to attract additional capital to the local digital asset market as regulations are developed. The National Assembly’s Strategy and Finance Committee will discuss the proposal on November 26th. This comes after the ruling People Power Party (PPP) suggested delaying crypto tax policies until 2027. The DPK's compromise is a significant increase from the current exemption limit of 2.5 million won ($1,795). The DPK's proposal will be voted on in the taxation subcommittee on November 25th.
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