South Korea Opposition Party Trying to Make Changes to Crypto Tax: Report

South Korea Opposition Party Trying to Make Changes to Crypto Tax: Report
South Korea’s opposition People Power Party is preparing a proposal to delay the implementation of the country’s crypto tax legislation, as well as adjust the level at which taxes would kick in, according to a report in the Korea Herald.The bill would delay the legislation coming into effect from the currently planned Jan. 1, 2022, to the beginning of 2023.It would also alter the law from levying a 20% tax on cryptocurrency capital gains above 2.5 million won (US$2,125) to placing a 20% tax on gains between 50 million and 300 million won ($42,000-$251,000), and a 25% tax for profits…