South Korea Crypto Rules Advance, but Tax Delay Remains Unclear

TLDR South Korea’s Digital Asset Basic Act has reached the final stage of government consultations. The proposed law would introduce crypto exchange licensing and rules for stablecoin issuers. Lawmakers are questioning the January 1, 2027, crypto tax deadline after three previous delays. The planned 22% tax would apply to annual crypto income exceeding 2.5 million won. Tax authorities continue preparing implementation guidance, although officials have not decided whether to delay taxation again. South Korea is nearing the end of government talks on its Digital Asset Basic Act, while lawmakers question a planned cryptocurrency tax. Financial Services Commission Chairman Lee Eog-weon confirmed the bill’s progress during a parliamentary hearing on October 22. Lee said officials would seek to submit the legislation promptly.

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