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Crypto

Exchange major shareholder stake cap kept despite delays in digital asset law, raising fears of chilled financial investment

As the institutionalisation of South Korea’s digital asset market is delayed, financial authorities are again stressing the need to limit major shareholders’ stakes in exchanges, heightening industry concerns. The Financial Services Commission is considering a 20 percent cap, with options such as allowing up to 34 percent under conditions or limiting voting rights. With second-stage legislation stalled, uncertainty is affecting deals and investments involving Naver Financial, Dunamu, Coinone and Korbit.

Crypto

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.