South Korean officials caused confusion by contradicting announcements this year regarding possible repeal or modification of the forthcoming crypto tax, which will come into force in 2022.

Throughout 2021, debates increased in intensity in the National Assembly, South Korea’s legislature, about whether, or how, to amend the crypto tax. Unchanged, income earned by crypto transactions above 2.5 million Korean Won will be subject to a 20% tax or approximately $2,100.