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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

Cautious on financial investment income tax, presses ahead with digital asset tax as equity dispute lingers

The government is holding to its plan to impose tax on digital asset income from 2027 while taking a cautious stance on introducing the financial investment income tax, keeping alive an equity dispute with listed stocks. The industry says preparation is lacking, including verification of acquisition costs and tax standards by transaction type, and calls for a review of the timeline. Analysts and industry groups also raise issues such as loss carryforwards, data links and overseas trading information.

Crypto

Digital asset taxation four months away, calls to redesign blanket other-income classification

With digital asset taxation set to begin next year, a proposal has emerged to revise the current system that classifies both transfer and lending income as other income. Speakers at a National Assembly forum said income categories should reflect the economic substance of different transaction types, including trading, mining and staking. They also called for stronger enforcement infrastructure, including linking transaction data across domestic and overseas exchanges and personal wallets.