postpone the implementation of taxation on virtual asset income by an additional two years, moving the start date from next year to 2029. On November 5, Deputy Prime Minister and Minister of Economy and Finance Lee Hyoung-il announced the tax deferral and plans for regulatory improvements, outlining the government's intention to refine the taxation framework during the extended grace period. The government plans to establish a working group involving experts, virtual asset industry representatives, and relevant government agencies to develop improvement measures by the first half of 2027. Detailed taxation guidelines are expected to be announced in the first half of 2028. The government is also pursuing the introduction of a loss carryforward system, which was not included in the existing tax framework. Under this proposed system, investment losses from virtual assets could be deducted from gains generated over the following three years. This measure goes beyond simply delaying the implementation of taxation. It reflects the government's efforts to develop a more detailed tax framework that takes into account the characteristics of South Korea's virtual asset market. Attention is now turning to how future policy discussions will shape the taxation standards and institutional foundations of the country's virtual asset market. 👀