--- title: "South Korea Schedules Exchange Consultations as Lawmakers Push to Delay Crypto Tax" description: "Senior finance officials will meet DAXA platforms following a legislative proposal that would defer domestic virtual asset taxation until 2029." url: https://basisdesk.news/news/south-korea-meets-exchanges-over-crypto-tax-delay-carf published: 2026-10-19T05:22:07.471Z modified: 2026-10-19T05:22:07.471Z section: Regulation & Policy author: Basis Desk Newsroom (AI-generated, source-verified) sentiment: neutral tickers: [BTC] tags: [south-korea, crypto-tax, fsc, daxa, carf, compliance] license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice. --- # South Korea Schedules Exchange Consultations as Lawmakers Push to Delay Crypto Tax Senior finance officials will meet DAXA platforms following a legislative proposal that would defer domestic virtual asset taxation until 2029. ## At a glance - **What happened:** South Korean financial officials scheduled a consultation with domestic exchange leaders to review virtual asset tax readiness. - **Why it matters:** Domestic platforms are pushing for an administrative deferral, bolstered by new legislation proposing to tie taxation to 2029 OECD standards. - **Who is affected:** South Korean crypto exchanges Upbit, Bithumb, Coinone, DigitalX, and Gopax, as well as domestic digital asset investors. - **Takes effect:** 2027 - **What's next:** The government consultation on Tuesday and subsequent National Assembly deliberations regarding the CARF tax postponement bill. - **Status:** proposed - **Primary source:** [South Korea to meet crypto exchanges amid calls for tax delay](https://cointelegraph.com/news/south-korea-to-meet-crypto-exchanges-amid-calls-for-tax-delay?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound) — cointelegraph.com ## Key points - South Korean finance officials will meet leaders from five domestic exchanges and DAXA on Tuesday to discuss digital asset tax readiness. - Exchange operators argue lack of finalized transaction rules and inadequate preparation time warrant delaying crypto taxation. - Lawmaker Park Min-gyu introduced legislation linking tax enforcement to OECD CARF schedules, which would defer implementation to 2029. ## Editorial remark - **Context:** South Korea previously postponed its proposed cryptocurrency tax three times, pushing the mandate to 2027 amid disputes concerning investor thresholds and exchange infrastructure. - **Impact:** Exchanges including Upbit, Bithumb, and Coinone gain regulatory audience to voice compliance difficulties, potentially averting tax reporting mandates until 2029. - **Watch:** The outcome of Tuesday's inter-agency consultation with DAXA and legislative progress on lawmaker Park Min-gyu's CARF-linked postponement bill. Senior South Korean financial authorities are convening a meeting with major domestic cryptocurrency platforms on Tuesday to assess industry readiness amid growing demands to postpone virtual asset taxation [1]. Government participants slated for the consultation include Kwon Dae-young, first vice minister of finance and economy, alongside Yoo Young-jun, director general for digital financial policy at the Financial Services Commission [1]. Executives representing Upbit, Bithumb, Coinone, DigitalX, Gopax, and the Digital Asset Exchange Alliance (DAXA) are expected to attend [1]. The planned discussions come after South Korean lawmakers repeatedly deferred virtual asset tax enforcement on three distinct occasions, most recently establishing a target rollout for 2027 amid regulatory debates over taxation thresholds and technological requirements [1]. An exchange representative stated that technical guidelines for varying trade categories remain unresolved, leaving insufficient runway for firms to implement the necessary administrative infrastructure [1]. Consequently, participating venues largely agree that the taxation start date should be deferred further [1]. At the time of writing, $BTC was trading at $82,527, with the broader digital asset market capitalization standing at $2.75T. ## Legislative Push to 2029 Pressure to suspend the measure mounted further when Democratic Party lawmaker Park Min-gyu submitted a formal bill proposing that implementation be tied directly to international reporting schedules [1]. The draft legislation mandates that tax collection begin on Jan. 1 of the second year following the initial cross-border data transfer under the OECD's Crypto-Asset Reporting Framework (CARF) [1]. Because South Korea is slated to conduct its initial data exchange in 2027, the legislative provision would effectively hold off crypto taxation until 2029 [1]. The meeting provides domestic operators an avenue to seek operational flexibility while the National Assembly weighs the latest statutory deferral proposal [1]. ## FAQ **Why are South Korean exchanges requesting a tax delay?** Exchanges report that clear standards for different transaction types remain unresolved and that operational infrastructure cannot be finalized in time. **What is the new timeline proposed for the crypto tax?** A bill sponsored by lawmaker Park Min-gyu would schedule taxation for Jan. 1 of the second year after South Korea begins OECD CARF data sharing, setting the launch date in 2029. ## Sources 1. [South Korea to meet crypto exchanges amid calls for tax delay](https://cointelegraph.com/news/south-korea-to-meet-crypto-exchanges-amid-calls-for-tax-delay?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound) — cointelegraph.com, 2026-10-19 --- Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai