Crypto tax deferral debate gathers pace as overseas data, framework law emerge as key issues

Deputy Prime Minister and Minister of Finance and Economy Lee Hyoung-il said during a parliamentary audit on Oct. 6 that the government would broadly consult lawmakers, experts and the industry on cryptocurrency taxation. Former National Tax Service Commissioner Lim Kwang-hyun said at an Oct. 13 parliamentary audit that detailed guidance on cryptocurrency taxation standards would be announced next month following consultations with the Ministry of Finance and Economy. Meanwhile, work on the Digital Asset Framework Act, widely regarded as a prerequisite for taxation, has been delayed from the government-drafting stage.

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