South Korea
Block Media
As the Digital Asset Basic Act Stalls, Industry Faces Snowballing Management Burdens — Will Tax Deferral Open the Door to Legislation?
- Prolonged delay in passing the Digital Asset Basic Act is driving up compliance and management costs for crypto firms, which are struggling to expand business amid stalled corporate-market access and institutional reforms.
- Policymakers are reportedly moving to pair a crypto tax deferral with efforts to speed up passage of the Basic Act.
- Unresolved disputes over who can issue won-denominated stablecoins and over limits on major shareholders' stakes in exchanges are expected to keep causing friction during National Assembly deliberations.