South Korea to Start Taxing Crypto Gains From Jan. 1, 2027

South Korea will proceed with plans to tax cryptocurrency-related income from January 1, 2027. The National Tax Service (NTS) is preparing guidance notices that are expected to be released soon alongside a legislative announcement. Moon Kyungho, Director of the Income Tax Division at the Ministry of Economy and Finance, said the NTS has held multiple working-level consultations with the country's five major crypto exchanges: Upbit, Bithumb, Coinone, Korbit, and Gopax. Under the current income tax law, income from the transfer or lending of crypto assets will be treated as "other income." Amounts exceeding 2.5 million won will be taxed at a combined rate of 22%, consisting of 20% income tax and 2% local tax. The measure is expected to affect about 13.26 million investors.