South Korea's virtual asset tax may face its fourth postponement, with its implementation in 2027 uncertain.

According to a report by Kim Gap-rae, a senior researcher at the Korea Capital Markets Institute, the virtual asset tax policy, originally scheduled for implementation in 2027, may face its fourth postponement. Despite three previous delays, key institutional flaws remain unresolved, including a lack of clear definitions and standards for various revenue streams such as lending yields, airdrops, and hard forks.

In particular, the tax rules for peer-to-peer (P2P) transactions on overseas exchanges are almost nonexistent, which may lead to unfair tax burdens between domestic exchange users and overseas platform users. The government expects to achieve full taxation only after the 48-country virtual asset information sharing agreement comes into effect in 2027.

Experts recommend establishing a "Special Working Group for the Rectification of the Virtual Asset Tax System" to clarify tax rules for various types of income and to establish an information collection system connected to exchanges and personal wallets to ensure the smooth implementation of the policy. Currently, South Korea has approximately 10.77 million virtual asset users, a number approaching that of stock investors.