South Korea Delays Plans to Tax Crypto to 2023

South Korea Delays Plans to Tax Crypto to 2023
South Korean legislators delayed plans to tax virtual assets until 2023 at Thursday’s plenary session, CoinDesk Korea reported.The proposed tax would have levied a 20% tax on crypto gains made in a one-year period over KRW 2.5 million (US$2,122), starting Jan. 1, 2022.Lawmakers from both ruling and opposition parties are trying to appeal to voters in their 20s and 30s, who are more likely to be cryptocurrency investors and therefore against the proposed tax, ahead of the presidential election in March, local analysts have said.It is common to see resistance from industry and investors over tax plans, Harold Kim, director…