South Korea’s 20% Tax on Crypto Gains Will Take Effect in 2022: Report

South Korea’s 20% Tax on Crypto Gains Will Take Effect in 2022: Report
South Korean Finance Minister and Deputy Prime Minister Hong Nam-ki said his country is moving ahead with its plan to tax gains on cryptocurrency trading starting in 2022, according to a report in The Korea Times.The policy, which will levy a 20% tax on crypto gains of over 2.5 million won (US$2,125) made in a one-year period, was originally supposed to go into effect on Oct. 1, but was delayed due to a lack of taxation infrastructure.A previous proposal in September by the ruling Democratic Party of South Korea to delay the taxation policy until 2023 was abandoned, CoinDesk Korea…