➡️ South Korea confirms 22% crypto tax will cover private wallets, foreign exchanges

Crypto Miami, @crypto_miami

Open in Telegram
#2017Photo

➡️ South Korea confirms 22% crypto tax will cover private wallets, foreign exchanges 🌐 South Korea has confirmed that taxable crypto income earned through overseas exchanges and private wallets will fall under its planned 22% digital asset tax when the regime takes effect on Jan. 1, 2027. Digital Asset reported on Aug. 20, citing government responses submitted to People Power Party lawmaker Kim Sang-hoon, that the Ministry of Economy and Finance and the National Tax Service said the location or custody method of a digital asset would not determine whether income from its transfer or lending is taxable. ⭐️ Under the current framework, income from digital assets will be classified as other income, with an annual basic deduction of 2.5 million won. Income exceeding that threshold will face a 20% national tax, rising to a maximum combined rate of 22% after local income tax. The government also maintained that the tax should take effect on schedule next year, even as the People Power Party continues to call for its abolition or another delay. ⚡️ The National Tax Service said income earned by South Korean residents through the transfer or lending of digital assets would remain taxable regardless of whether the assets were held on an overseas exchange or in a private wallet. The Finance Ministry gave a similar response, saying the tax treatment does not depend on whether the income originated domestically or overseas. Transactions made through private wallets will also be treated under the same principle.

Open in Telegram
Views82,766+3%vs avg
Forwards593
Reactions2,176
Comments—

Reactions

  • ❤703
  • 👍511
  • 😱330
  • 😍223
  • 🔥128
  • 👌91
  • 🐳72
  • 🗿72
  • ⚡19
  • 🤝15
  • ❤‍🔥12

More from Crypto Miami

  1. 01
    Views101K
    Forwards548
    Reactions2.33K
    Comments—
  2. 02

    📌 Bitcoin price stalls near $82K as key resistance holds 🌐 Bitcoin price pulled back after briefly breaking above $82,000 on Sept. 4, as traders took profits following a short squeeze driven by softer Federal Reserve expectations and renewed demand for US spot Bitcoin ETFs. According to data from cryptonews, Bitcoin price traded near $81,150 at the time of writing, having failed to hold an intraday move above the $82,000 psychological level. The pullback left the asset about 1% below its local high but still well above the $80,000 mark reclaimed during the previous session. ⚠️ The rally accelerated after Bitcoin moved out of a range around $77,000–$79,000. Short sellers were forced to close leveraged positions as the price crossed $80,000, adding automatic buy orders to the market. CoinGlass data cited by market reports showed that the broader crypto market recorded more than $500 million in liquidations during the rally, with short positions accounting for most of the total. Bitcoin shorts reportedly absorbed about $415 million of those losses. 📊 Price action has since slowed near a technically important area. Galaxy Research data shared by analyst Quinten François placed Bitcoin’s 50-week moving average near $81,041, almost level with the current market price. According to François, Bitcoin has not closed a weekly candle above that moving average since November 2025. He said a move through $82,800 would also produce the first higher high of the broader downtrend and bring $90,000 back into consideration.

    Photo
    Views94.4K
    Forwards437
    Reactions2.5K
    Comments—
  3. 03
    Views91.6K
    Forwards572
    Reactions2.34K
    Comments—
  4. 04
    Views87.7K
    Forwards567
    Reactions2.25K
    Comments—
  5. 05
    Views87.4K
    Forwards509
    Reactions2.42K
    Comments—

All posts of Crypto Miami