South Korea Confirms Crypto Asset Taxation to Begin in 2027 as Planned

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According to Deputy Prime Minister Koo Yoon-chul on July 29, South Korea will proceed with cryptocurrency taxation starting next year as originally scheduled. Currently under exemption through year-end, virtual asset income will be classified as 'other income' rather than capital gains, subject to a 20% separate tax rate. Losses cannot be carried forward to offset future gains, unlike capital asset taxation systems used in the U.S., Japan, and the UK.
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