South Korea to Delay Introduction of Tax on Crypto Traders

Yoon Suk-yeol, who is a supporter of sensible crypto regulation and opposes the strangulation of the blockchain industry, has recently won the presidential election in South Korea.

He said this week that he would not rush to tax crypto traders. According to the initial plans of the country’s authorities, the tax was supposed to appear from 2022, but then it was decided to shift this period to 2023.

The president of the country has said that the taxation of market participants is possible only after the introduction of legislation on the regulation of relations in the crypto sphere. In March, the team of the head of state started the preparations for shifting the timing of the introduction of taxation of traders.