South Korea2026.11.04Digital Asset

Three Reasons the Democratic Party Decided to Defer Crypto Taxation

• The Democratic Party formally requested the government delay taxing virtual asset (digital asset) income.
• Spokesperson Shin Hyun-young cited three reasons: difficulty obtaining domestic and overseas transaction data, the need to link the Digital Asset Basic Act with the tax system, and the need to verify the tax system's practical effectiveness.
• The party stressed that while the principle of taxing income where it arises must be upheld, sufficient tax data and consistent standards are needed before implementation.