TechFlow news, November 24 — According to a report by Kim Gap-rae, senior researcher at the Korea Capital Market Institute, the virtual asset tax policy originally scheduled for implementation in 2027 may face a fourth postponement. Despite having been delayed three times already, critical institutional shortcomings remain unresolved, including the lack of clear definitions and standards for various forms of income such as lending gains, airdrops, and hard forks.
Notably, tax regulations for overseas exchanges and peer-to-peer (P2P) transactions are nearly nonexistent, which could lead to unfair tax burdens between users of domestic exchanges and those using overseas platforms. The government anticipates that comprehensive taxation will only become feasible after the 48-country virtual asset information-sharing agreement takes effect in 2027.
Experts recommend establishing a "Special Task Force for Virtual Asset Tax System Reform" to clarify tax rules for different types of income and build an information collection system connected to exchanges and personal wallets, ensuring smooth policy implementation. Currently, South Korea has approximately 10.77 million virtual asset users, a number approaching that of stock investors.
