South Korea2026.10.14Digital Asset

"Stablecoins Held by Individuals Should Be Considered Tax-Exempt Like Foreign Currency"

• Kim Sang-mun, head tax accountant at KNP Tax Accounting Corp, made the proposal at the Korea Tax Law Association's autumn academic conference on October 14 in Yongsan-gu, Seoul.
• He compared stablecoins to foreign currency, noting that gains from a rising exchange rate on held dollars are not taxed, unlike the treatment digital assets currently face.
• He warned that applying existing virtual asset tax rules to stablecoins would force individuals to calculate gains/losses on every remittance, payment, or exchange transaction, creating an unreasonable compliance burden.