South Korea Weighs Crypto Tax Delay Amid Industry Compliance Concerns

Representatives from Upbit, Bithumb, Coinone, DigitalX, and Gopax will convene with the Digital Asset Exchange Alliance and government officials, including First Vice Minister of Finance and Economy Kwon Dae-young. The meeting aims to bridge the gap between the government’s tax roadmap and the operational hurdles cited by trading platforms. Exchanges argue that current rules regarding staking, airdrops, and decentralized finance remain too ambiguous to support accurate reporting systems.

Legislative momentum for a postponement gained traction on October 16 when lawmaker Park Min-gyu introduced an amendment to the Income Tax Act. The proposal seeks to link the tax start date to the establishment of international transaction-data exchanges via the OECD’s Crypto-Asset Reporting Framework. If passed, this mechanism could push the implementation to 2029, ensuring domestic authorities have adequate access to data from overseas platforms to prevent market inequality. Despite the ongoing parliamentary debate and a public petition exceeding 50,000 signatures, the National Tax Service maintains its current timeline. Commissioner Lim Gwang-hyeon confirmed that the agency expects to release comprehensive implementation guidelines in November, proceeding as if the January 2027 deadline remains fixed.