Update
South Korea Extends Tax Deferral for Crypto Traders
South Korea's finance minister announced a plan to extend the two-year reprieve for cryptocurrency traders, which has been in place since 2020. The tax on annual profits from selling or lending digital assets above 2.5 million won ($1,860) will remain at 22% until January, when lawmakers must amend the law. The delay is expected to keep the market stable and prevent crypto traders from moving their money abroad to avoid the tax, which is mainly supported by younger investors in their 20s and 30s.