[Crypto Chatter] Government Wants to Delay Coin Tax Again, US Caught in Rules Fight

South Korea’s government has proposed delaying its planned cryptocurrency tax from 2027 to 2029, which would mark the fourth postponement after three prior deferrals, and will negotiate the change with the National Assembly. Deputy Prime Minister and Finance Minister Lee Hyung-il said the move weighs heavily given the repeated delays but that the principle of taxing income should be maintained, while the package also includes allowing crypto losses to offset gains over three years. The proposal matters because it extends uncertainty over when Korean crypto investors and exchanges will face taxation, keeping compliance and reporting timelines in flux. Separately, Bank of Korea crypto team head Kim Bo-il raised the issue of bank-led issuance of won-denominated stablecoins at a forum, signaling an ongoing policy debate over who should issue Korean won stablecoins. What to watch next is whether the National Assembly amends the law to confirm the 2029 start date and how regulators settle the won stablecoin issuance framework.