A current report says South Korean lawmakers reached tentative cross-party consensus during a Nov. 11 subcommittee meeting to delay virtual-asset income taxation by two years, to 2029. However, the report also says no final conclusion was reached, meaning the proposal remains under discussion rather than constituting a completed legal change.

The 2029 Delay Remains Under Discussion

Based on the supplied evidence, South Korea has not officially delayed its crypto tax until 2029. The Nov. 11 development was described as a subcommittee-level discussion that produced tentative consensus between ruling and opposition lawmakers, but stopped short of a final conclusion.

The distinction matters because definitive headlines can imply that the law has already changed. According to the current report, Democratic Party lawmaker Oh Gi-hyoung said lawmakers discussed four digital-asset agenda items at the meeting, while People Power Party lawmaker Bae Jun-young said the government had proposed the two-year delay. Even so, the reported outcome was continued negotiations over procedural provisions, not a completed enactment.

How the Proposal Would Change the Tax Timeline and Rules

The latest discussion points to a further postponement from the previously reported Jan. 1, 2027 start date under the then-current framework. That earlier timeline appeared in a July media retrieval attributed to Deputy Prime Minister Koo Yun-cheol. The Nov. 11 development is therefore best understood as a newer proposal to revise the timetable, rather than proof that the earlier reporting was incorrect.

An SBS search-result snippet described the previous framework as a 22% combined tax on annual income from virtual-asset transfers or lending exceeding a KRW 2.5 million basic deduction. The supplied material does not establish whether a future amendment would retain every aspect of that framework, but it indicates the type of tax regime lawmakers were debating.

Outstanding Negotiations Could Affect Exchanges and Taxpayers

The supplied report says lawmakers were still debating loss carryforwards, a higher basic deduction, and earlier tax-data submissions by virtual-asset service providers. This means the active policy debate is no longer solely about whether to delay the start date.

These details could shape how the system operates if a delay bill is eventually passed. Loss-carryforward rules determine whether investors can offset future gains with earlier losses, while changes to the deduction affect who falls within the taxable pool. Earlier reporting by exchanges and other service providers would also directly affect compliance operations before tax collection begins. For now, the key next signal is whether these discussion points are converted into formal amendment language.