South Korea To Tax Crypto GainsSouth Korea's government plans to impose a 22% tax on annual crypto gains that exceed 2.5 million won ($1,740 U.S). The Asian nation will start taxing crypto gains on Jan. 1, 2027. Investors will receive an annual deduction equivalent to $1,740 U.S., with gains above that threshold subject to a 22% tax rate, according to Korea's National Tax Service. Critics argue that South Korea's tax should wait until the OECD's cross-border Crypto-Asset Reporting Framework is fully implemented and operational. Legislation introduced in March would abolish the tax by removing crypto income from the country's Income Tax Act.