Korean lawmakers propose delaying crypto tax rule to January 2022

The South Korean congress is reportedly proposing to delay the commencement of a crypto income tax rule by three months to January 2022.

According to a report from South Korean media The Dong-a Ilbo on Wednesday, the National Assembly's planning and finance committee has recently issued a report suggesting it's necessary to consider implementing the crypto income tax rule from at least January 1, 2022. 

South Korea's Ministry of Economy and Finance amended its tax code in July this year where it finalized a plan for charging local residents a 20% tax on gains from crypto trading that are worth more than 2.5 million Korean won, or about $2,000.

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The government's plan, which is subject to the