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UNIViews are split on South Korea's crypto tax plan, with one side arguing that legislation should come first and taxation later, and the other opposing any further repeated delays.
RegulationBloomingbitAINeutral
South Korea's crypto tax plan divides opinion as debate pits legislation against further delays
NewsFeeds update
The story so far: South Korea crypto tax debate
South Korea's ruling Democratic Party is weighing a further delay to the cryptocurrency tax due in January. Lawmaker Min Byoung-dug said on 30 Oct that crypto taxation should come only after a basic digital asset law and the necessary systems are in place, and called for tax-loss carryforwards. Views remain split…
South Korean ruling party lawmaker urges delay of crypto tax; government sticks to schedule
Min Byung-deok, a senior policy committee figure in South Korea's ruling Democratic Party, said the crypto tax should start only after the Digital Asset Basic Act passes, citing difficulty tracking overseas exchange income and the inability to carry over losses. Finance Minister…
South Korean floor leader urges review of crypto tax plan
People Power Party floor leader Jung Jeom-sik told the National Assembly after meeting Deputy PM Lee Hyoung-il that the virtual asset tax due in January should be delayed or scrapped, citing capital-outflow concerns.
DAXA vice chairman calls for full review of South Korea's crypto tax regime
Kim Jae-jin, vice chairman of the Digital Asset eXchange Alliance, called for a full review of the crypto tax system ahead of its planned January implementation, saying the 2020 bill is unchanged despite three delays. He warned individual taxpayers could unknowingly become tax…
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CoinNessAINeutralSouth Korea to broadly gather views on crypto taxation, deputy PM says
Deputy Prime Minister and Finance Minister Lee Hyoung-il said the government will broadly gather views from the National Assembly, experts and industry on cryptocurrency taxation, Edaily reported. Lee said revenue from the tax is hard to estimate and did not clearly restate…
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CoinNessAINeutralSouth Korea to seek industry and expert views on planned crypto tax before 2027 rollout
South Korea says it will gather views from industry and experts on its planned crypto tax ahead of its 2027 rollout.
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CryptoindiaAIBearishSouth Korea ruling party backs crypto tax plan starting next year
South Korea's ruling Democratic Party says virtual assets should be taxed as scheduled next year, Edaily reported. Oh Gi-hyoung, its floor coordinator on the National Assembly Strategy and Finance Committee, said reversing the plan immediately would be inappropriate.
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CoinNessAIBearishSouth Korea's deputy PM says virtual asset tax review will take in wide views
South Korea's deputy prime minister and finance minister Lee Hyung-il said the government will gather views from parliament, experts, industry and stakeholders on the planned 2027 virtual asset tax. Lawmaker Kim Sang-hoon questioned whether infrastructure for tracking and verifying trades on overseas exchanges, DEXs and DeFi platforms would be ready before the levy starts.
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OdailyAIBearishSouth Korea finance ministry says no formal FSC talks on offshore crypto derivatives tax
South Korea's Ministry of Economy and Finance says it has exchanged no official documents with the Financial Services Commission on taxing crypto derivatives traded on overseas exchanges since 2022, KBS News reported. Lawmaker Kim Sang-hoon obtained the ministry's materials as a taxation gap emerges before next year's virtual asset tax rollout.
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CoinNessAINeutralSouth Korea's Lim Kwang-hyun says January crypto tax launch faces infrastructure gaps
South Korea's national tax service chief Lim Kwang-hyun told a parliamentary audit that the country plans to start taxing crypto in January, but tax infrastructure still has gaps. Private wallet transfers and overseas platform trading remain hard to track, even with CARF.
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PANewsAIBearishSouth Korea to meet five major crypto exchanges on 20 Oct over virtual asset tax
South Korea's government will meet Upbit, Bithumb, Coinone, Digital X, GOPAX and DAXA on 20 Oct to hear views on a virtual asset tax due next year, which would levy 22% income and local tax after a 2.5m won exemption. The policy has been postponed three times since 2020, and the industry wants another delay.
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PANewsAIBearishSouth Korean exchanges push for further delay to crypto tax
South Korea's finance ministry officials were due to meet major exchanges, including Upbit, Bithumb and Coinone, to discuss the crypto tax, which has been delayed three times, most recently to 2027. Democratic Party lawmaker Park Min-gyu has proposed starting the levy in 2029.
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OdailyAIBullishSouth Korea's virtual-asset tax may slip again before 1 January start
South Korea's planned virtual-asset tax, due to start on 1 January, could be postponed again, The Asia Business Daily reported. The Ministry of Economy and Finance is due to attend a ruling-party parliamentary forum on 2 November to discuss the regime.
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CoinNessAIBullishSouth Korea reviews crypto tax readiness before 1 January 2027 rollout
South Korea is reviewing its readiness for the crypto tax regime due to take effect on 1 January 2027.
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BloomingbitAINeutral
South Korea's finance ministry meets five exchanges on virtual asset tax
South Korea's finance ministry met Dunamu, Bithumb, DigitalX, Coinone and Streami, plus the Financial Services Commission, to discuss the virtual asset tax, including delaying or scrapping it, without a clear decision. The tax, set in 2020, has been pushed back to 2027.
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OdailyAINeutralSouth Korea's PPP says it will seek deal with Democratic Party on digital asset taxation
South Korea's People Power Party will seek agreement with the ruling Democratic Party on taxing virtual assets, deputy policy chief Park Soo-young said on 21 Oct. He said the outcome is hard to predict because the Democratic Party has not made its position party policy.
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CoinNessAINeutralSouth Korea's November assembly session to test won stablecoin and crypto tax push
South Korea's November parliamentary session will test the government's regulatory push, covering won-denominated stablecoins and crypto taxes.
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South Korea finance chief Lee says crypto tax decision to follow wider consultations
South Korea's Deputy Prime Minister and finance minister Lee Hyoung-il said the government will decide on the planned January virtual asset tax after hearing from industry, experts and lawmakers, speaking at a National Assembly audit in Seoul on 22 Oct. He reaffirmed at the G20 finance ministers meeting on 19 Oct that further consultations would take place.
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CoinNessAINeutralLee Eok-won says crypto tax needs broad review as digital asset bill nears final talks
South Korea's Financial Services Commission chair Lee Eok-won told a parliamentary audit that the planned virtual asset tax, due from next year, needs full consideration of various factors, saying the digital asset bill is in final consultation. The tax, introduced in 2020, has been delayed three times.
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OdailyAINeutralSouth Korea's Blue House leans towards fourth delay of 22% crypto income tax
South Korea's Blue House is leaning towards postponing the virtual asset income tax due to start on 1 January 2027, which would be its fourth delay, though it says no decision has been made. Ruling party lawmaker Park Min-kyu has proposed pushing taxation to 2029, and the opposition People Power Party also backs a delay.
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PANewsAIBullishPark Soo-young calls for quick confirmation of crypto tax delay
Park Soo-young urged swift confirmation of the crypto tax delay, saying rules and systems must be put in place first.
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South Korea's Democratic Party to weigh further delay to crypto tax
Floor leader Han Byung-do said the ruling party will review tax fairness and enforcement conditions, including whether authorities hold enough overseas exchange data, before deciding on a possible delay to the January start.
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CoinNessAINeutralSouth Korea considers education tax on crypto exchanges if classed as financial institutions
South Korea's government has told crypto exchange chiefs it may impose an education tax on them if they are classed as financial institutions under a proposed digital assets bill. Crypto trading and brokerage are currently treated as telecoms businesses, which are exempt.
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OdailyAIBearishSouth Korea's Democratic Party weighs delaying crypto tax due in January
South Korea's Democratic Party discussed delaying cryptocurrency taxation due to start in January at a lawmakers' meeting on 27 Oct, floor spokesperson Jeon Eun-su said, adding that no decision was made. Lawmaker Ahn Do-geol argued the Basic Digital Asset Act should be enacted first, and the party aims to conclude soon.
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CoinNessAINeutralSouth Korea's ruling party leans towards another delay to crypto tax
South Korea's government is considering postponing virtual asset taxation that had been due to start in January, and the ruling Democratic Party moved towards a delay at a lawmakers' meeting on 27 Oct. Kim Han-kyu, the party's senior deputy floor leader for policy, said no one opposed a postponement.
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CoinNessAIBullishSouth Korea's Lee Hyoung-il says government will listen on digital asset taxes
South Korea's Deputy Prime Minister and Finance and Economy Minister Lee Hyoung-il told a ruling party-government meeting at the National Assembly in Seoul that the government will heed public opinion on taxing digital assets and review it fully in consultations. He said the government has been gathering industry and expert views on concerns and calls for improvements.
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CoinNessAINeutralKSOI poll finds 41.6% back Korea's planned crypto tax, younger respondents favour delay
A Korea Society Opinion Institute survey found 41.6% of respondents want the digital-asset gains tax, due next year, implemented as planned, while 35.1% want a delay and 23.3% were unsure. A majority of respondents in their 20s and 30s favoured postponement.
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CoinNessAINeutralSouth Korea's Democratic Party to meet five largest exchanges before fourth tax delay decision
South Korea's ruling Democratic Party will meet the heads of the five biggest crypto exchanges on the morning of 30 Oct, JoongAng Ilbo reported, as it seeks to bridge internal differences before a fourth delay to virtual asset taxation.
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CoinNessAINeutralSouth Korea's ruling party to meet five crypto exchanges on tax delay
South Korea's ruling Democratic Party will meet representatives of Upbit, Bithumb, Coinone, Korbit and Gopax on Friday to discuss postponing the crypto tax due to start in January 2027. The party has proposed moving implementation to 2029, citing insufficient infrastructure and difficulty obtaining transaction data.
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PANewsAIBullishMin Byoung-dug says South Korea should pass digital asset law before crypto tax
South Korean Democratic Party lawmaker Min Byoung-dug said crypto taxation should come only after a basic digital asset law and the necessary systems are in place, and called for tax-loss carryforwards.
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CoinNessAIBullishYoon Sang-hyun says clear crypto tax standards needed as levies delayed three times
People Power Party lawmaker Yoon Sang-hyun told a National Assembly forum that virtual assets need clear tax standards, noting plans to start taxing them in 2022 were postponed three times. He said such assets may be a last ladder of hope for young people facing high home prices, a tough job market and low wages.
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CoinNessAINeutralSouth Korea's crypto tax plan divides opinion as debate pits legislation against further delays
Views are split on South Korea's crypto tax plan, with one side arguing that legislation should come first and taxation later, and the other opposing any further repeated delays.
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