22% bloodbath of 15 million coin holders, KOSPI has already collapsed as a tribute, the ultimate scythe of South Korea's cryptocurrency tax has landed!

South Korean Deputy Prime Minister Gwaru Chol officially confirmed today (7.30) that the highly anticipated virtual asset tax will be implemented on January 1, 2027. It has been postponed three times and there is no longer a buffer window for the tax system. How harsh is this tax The portion of annual cryptocurrency profits exceeding 2.5 million Korean won (approximately 12500 RMB) will be subject to a separate tax rate of 20% capital gains tax+2% local income tax=22% comprehensive tax rate, and losses cannot be offset across years - this means that if you make a profit of 1 million from cryptocurrency trading and lose 800000, you will have to pay 44000 tax on the remaining 200000. Retail investors in the South Korean stock market do not pay capital gains tax when buying and selling stocks on the exchange. The same country has two sets of standards, which can be considered discriminatory clauses against cryptocurrency holders. How much does an ordinary person have to pay in a year Assuming that Korean salaried workers invest in BTC throughout the year, if BTC rises by 30% in 2026, the principal of 5 million Korean won will result in a profit of 1.5 million Korean won, which happens to be within the tax-free line; But as long as the profit exceeds 2.5 million Korean won, the excess will be immediately cut off by 22%. Over 15 million real name accounts from four major Korean exchanges, including Upbit and Bithumb, will be directly included in the National Tax Agency's "Digital Asset Comprehensive Analysis System", and every on chain transfer, withdrawal, and fiat currency withdrawal will be traceable. The market has voted with feet Today, KOSPI plummeted by 11%, triggering a circuit breaker, while SK Hynix and Samsung Electronics suffered simultaneous heavy losses; The Korean domestic BTC Korean won premium ("Kimchi premium") has always been 3% -15% higher than the global average price. On the eve of the implementation of the tax, there may be a panic outflow of gold, exacerbating short-term selling pressure. Every "delayed" news in history has pushed the daily volume of Korean BTC to increase by 2-3 times, but this time "no longer delayed" is a reverse shock. Differentiated Strike on Currency BTC/ETH and other mainstream currencies are directly held by a large number of South Korean people through ETFs and Upbit, with the most direct selling pressure; Local projects favored by Korean retail investors (such as Klaytn, Orbs, WEMIX) and Korean won stablecoins will be mistakenly killed due to liquidity withdrawal; Whether DeFi profits, NFT royalties, and other on chain revenues are included in taxation is still a gray area, and may attract short-term capital migration instead. (1) Avoid KRW trading pairs within 1-3 months in the short term and withdraw funds to a cold wallet or offshore account; (2) Proactively take profits and lock in costs by the end of 2026 to avoid being subjected to a 22% one size fits all approach across the year; (3) Pay attention to the progress of the opposition party's amendment to abolish the cryptocurrency tax in Congress, with 50000 people signing a petition as a potential reversal option; (4) There is no need to panic in the medium to long term - South Korea is one of the top five cryptocurrency markets in the world, and the implementation of regulation is actually a milestone in mainstreaming. Coupled with the election cycle, there is still room for a second extension of the 2027 bill. Risk Warning: The content of this article is for reference only and does not constitute investment advice. The market is risky, and investment needs to be cautious.