The South Korean government intends to implement a tax on cryptocurrency earnings starting January 1, 2027, with a total rate of 22% on annual profits exceeding 2.5 million won (approximately $1,740). This will consist of a base rate of 20%, plus an additional 2% for local taxes. The introduction of this measure has faced multiple delays, and there is currently a bill under consideration in the National Assembly aimed at its repeal. Key figures in this discussion include Deputy Prime Minister for Economic Affairs Ku Yun-chul and the People Power Party. Critics argue that the lack of a mechanism for carrying over losses could drive investors towards foreign and peer-to-peer platforms.