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People Power Party to review timing of digital asset tax amid fairness issues after financial investment tax repeal

South Korea\'s People Power Party said it will re-examine the current digital asset tax framework, including the planned start in January 2027. It cited difficulty in accurately identifying investors\' acquisition costs and gains due to trading via overseas exchanges and personal wallets. The party also raised concerns about tax fairness between digital assets and stocks after the financial investment income tax was abolished. It called for clearer rules for staking and DeFi and alignment with the Digital Asset Basic Act under discussion in parliament.

Crypto

2 million XRP stolen in two hours: How Descent hack was possible

A total of 1,552 users of cryptocurrency wallet service Descent’s app wallet suffered a large-scale hack in which 2,009,321 XRP was stolen, with the attacker operating in an automated way for about two hours. Some funds were moved to exchanges and a cross-chain bridge. Descent urged users to transfer assets to another wallet and said no impact has been confirmed from the company’s hardware wallet so far. The route of private-key exposure has not been identified.