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Senior finance officials will meet DAXA platforms following a legislative proposal that would defer domestic virtual asset taxation until 2029.
Key point 1 of 3
01
South Korean finance officials will meet leaders from five domestic exchanges and DAXA on Tuesday to discuss digital asset tax readiness.
Key point 2 of 3
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Exchange operators argue lack of finalized transaction rules and inadequate preparation time warrant delaying crypto taxation.
Key point 3 of 3
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Lawmaker Park Min-gyu introduced legislation linking tax enforcement to OECD CARF schedules, which would defer implementation to 2029.
Context
South Korea previously postponed its proposed cryptocurrency tax three times, pushing the mandate to 2027 amid disputes concerning investor thresholds and exchange infrastructure.
Why it matters
Exchanges including Upbit, Bithumb, and Coinone gain regulatory audience to voice compliance difficulties, potentially averting tax reporting mandates until 2029.
What to watch
The outcome of Tuesday's inter-agency consultation with DAXA and legislative progress on lawmaker Park Min-gyu's CARF-linked postponement bill.
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