South Korea’s Crypto Tax Debate Reopens as Digital Asset Bill Nears Submission

South Korea’s crypto tax debate is reopening as lawmakers question a 2027 start, while the Financial Services Commission says talks on a separate digital-asset bill are nearly complete. The crypto income tax is scheduled to take effect Jan. 1, 2027. Lawmakers have questioned whether taxation should begin before the country establishes a broader legal framework for digital assets. The proposed Digital Asset Basic Act would address licensing and stablecoin issuance. Financial Services Commission (FSC) Chairman Lee Eog-weon told lawmakers Thursday that consultations on the bill were in their final stage and that it would be submitted as soon as possible. Lee said the tax should “take various circumstances into full consideration.” Democratic Party leader Kim Min-seok called for a “thorough final review” of the tax on Thursday.

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