Multiple parties in South Korea call for a postponement of the cryptocurrency tax plan; Min Byung-deok: The legal foundation is not yet perfect
2026-09-29 14:16:26
According to CoinMeta, the Democratic Party of Korea, opposition party members, and industry groups are calling for a postponement of the cryptocurrency taxation plan that was originally scheduled to take effect in January 2027. Min Byeong-deok, a member of the Policy Committee of the Democratic Party of Korea, stated that initiating taxation before the "Digital Assets Basic Act" is established lacks sufficient legal and institutional foundations, and the mechanisms for tracking income from overseas exchanges and carrying over losses are still not perfect. The Korea Digital Asset Exchange Federation (daxa) and over 70% of local investors surveyed expressed concerns and opposition to the current tax regime preparations. Lee Hyung-ik, the Minister of Planning and Finance of Korea, advocates for implementing the plan on schedule, pointing out that most individual investors' holdings do not reach the taxable threshold, so the overall tax burden is limited.
Source:Internet
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