According to CoinMeta, the South Korean President’s Office supports the postponement of the implementation of the planned 22% cryptocurrency income tax to 2029, which was originally scheduled to begin in January 2027. A report dated October 25th confirmed that discussions have shifted towards a delay in enforcement, as the government is not yet fully prepared to levy this tax. The President’s Office has taken into account the concerns of young investors and the difficulties in obtaining transaction information from overseas cryptocurrency platforms. South Korea introduced a cryptocurrency income tax in 2020 by amending the Income Tax Act; it was initially planned to be implemented in January 2022, then postponed to 2023 and 2025, and finally set for January 2027. This postponement will be the fourth delay since the introduction of the legislation. Under the current framework, a 22% tax is levied on the annual profit from selling or lending cryptocurrencies. After deducting a tax exemption of 2.5 million Korean won, investors are required to pay 550,000 Korean won in taxes when they earn a qualifying annual income of 5 million Korean won. The government maintained the deadline of January 2027 in August, but the latest decision indicates that the stance of the President’s Office has changed, and amendments to the existing law will now require approval from the National Assembly. The main concern is whether the government will be able to collect accurate information on overseas transactions.