South Korea
Digital Asset
DAXA: "Digital Asset Taxation Must Be Linked with Classification Under the Basic Act and Enforcement Infrastructure"
- Kim Jae-jin, Standing Vice Chairman of the Digital Asset Exchange Alliance (DAXA), raised the issue on October 14 at the Korea Tax Law Association's autumn academic conference, held at Samil PwC in Yongsan-gu, Seoul.
- Korea's current Income Tax Act provisions on digital asset taxation are scheduled to take effect on January 1, 2027.
- DAXA warns that proceeding with the existing tax framework before stablecoins' legal status is finalized under the Digital Asset Basic Act could force taxpayers and businesses to adapt to new and then revised tax rules in quick succession.