What is the tax rate for crypto in South Korea?

In South Korea, however, the tax rates and levels for crypto will still be different than local securities. Taxes on most profits on stock trading will be between 20% and 25%, but the first 50 million won a year will be exempt.

How is crypto taxed?

Virtual currency, including crypto, is viewed as a property from a tax perspective and that dictates its tax treatment. How much tax on crypto gains? You'll pay up to 37% in tax on short-term crypto gains and up to 20% in tax on long-term crypto gains.

Why does South Korea have a crypto Levy?

The crypto tax was supposed to be implemented a year ahead of a similar capital-gains tax on stocks, leading some to question why digital currencies such as Bitcoin and Ether were being treated differently. South Korea originally considered the crypto levy in 2017 as the country attempted to rein in the frenzy surrounding digital assets.

How do I download my crypto tax report?

To download your crypto tax report, upgrade to a paid plan from $49 per year Download what you need, when you need it. For US investors, Koinly has the IRS Schedule D and Form 8949 for capital gains and losses, as well as the Complete Crypto Tax Report.