According to CoinDesk, South Korean officials are evaluating a fourth postponement of the deadline for implementing a tax on cryptocurrency capital gains, which would otherwise be enacted by 2028. The proposed extension would push the effective implementation date to no earlier than 2029.
A key concern cited by authorities is that users of domestic cryptocurrency exchanges could end up shouldering the tax burden if the United States does not provide requested crypto trading data until 2029. The U.S. commitment to share such information remains pending and has been delayed repeatedly in prior discussions.
The delay reflects ongoing coordination challenges between South Korean tax authorities and foreign counterparts over data sharing requirements necessary for accurate tax assessment on crypto transactions conducted through homegrown platforms. No formal decision has been announced; officials are only currently weighing the option amid these considerations.
