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Delaying tax laws on crypto is ‘inevitable’ By Cointelegraph


South Korean lawmaker: Delaying tax laws on crypto is ‘inevitable’

Noh Woong-rae, a member of South Korea’s National Assembly and a representative of the country’s ruling party, reportedly plans to postpone a bill clarifying the taxation of crypto until 2023.

According to a Thursday report from Naver News, Noh said the Democratic Party of Korea plans to push back against the intention of South Korea’s Ministry of Finance to tax virtual assets starting in 2022. According to the South Korean lawmaker, it’s currently too difficult to secure data to be used for taxes on crypto exchanges and through P2P transactions.