South Korea's crypto rulebook is almost done — and the tax fight is flaring up at the same time.
FSC Chair Lee Eog-weon told a National Assembly committee Thursday that consultations on the Digital Asset Basic Act are "nearing completion" and it will be introduced as soon as possible. It would set exchange licensing, stablecoin issuance rules, and clearer legal definitions.
Yet the 22% crypto tax (20% national plus 2% local on gains above 2.5M won) could take effect on January 1, 2027 before the framework exists. Delayed three times, it faces two 50,000-signature petitions — one for repeal, one for a two-year deferral. Ruling-party leader Kim Min-seok promises a "thorough final review" — a softer posture. The tax authority still plans its notice draft October 30 and public notice November 30.
South Korea is one of Asia's busiest crypto markets — rules first or tax first sets the template for the region.
Tape context only: $BTC ~$81,508 (-2.4%/24h).
Should taxation wait until the licensing framework is law — or does another delay just reward a year of regulatory limbo? NFA — do your own research.
#CryptoNews #SouthKorea #Regulation #CryptoTax
FSC Chair Lee Eog-weon told a National Assembly committee Thursday that consultations on the Digital Asset Basic Act are "nearing completion" and it will be introduced as soon as possible. It would set exchange licensing, stablecoin issuance rules, and clearer legal definitions.
Yet the 22% crypto tax (20% national plus 2% local on gains above 2.5M won) could take effect on January 1, 2027 before the framework exists. Delayed three times, it faces two 50,000-signature petitions — one for repeal, one for a two-year deferral. Ruling-party leader Kim Min-seok promises a "thorough final review" — a softer posture. The tax authority still plans its notice draft October 30 and public notice November 30.
South Korea is one of Asia's busiest crypto markets — rules first or tax first sets the template for the region.
Tape context only: $BTC ~$81,508 (-2.4%/24h).
Should taxation wait until the licensing framework is law — or does another delay just reward a year of regulatory limbo? NFA — do your own research.
#CryptoNews #SouthKorea #Regulation #CryptoTax