Democratic Party Secretary of South Korea: Taxation on Crypto Assets Should Proceed as Planned, Policy Stance Clearly Tightened

Odaily Planet Daily reports that Jeong Tae-ho, the Democratic Party secretary on the National Assembly's Finance and Economy Committee, stated that taxation on crypto assets (digital assets) has been delayed multiple times before and “since it has already been postponed, it should be implemented as planned.” Once the tax reform proposal is submitted to the Finance Committee, the party will officially begin discussions, but issues regarding institutional supplementation will be reassessed during the specific review phase.

Notably, this stance is significantly more hawkish compared to his April statement that “taxation on digital assets should be considered comprehensively,” and it aligns with the direction of the government. South Korean finance officials have previously confirmed that the income tax plan related to digital assets will be implemented as scheduled on January 1, 2027.

Meanwhile, multiple figures within South Korea’s ruling party have also strengthened their stance on taxation, creating a conflict with the opposition party's policy direction of advocating for the cancellation of taxes. The battle over South Korea’s crypto tax system may further escalate during the year-end budget and tax discussions. (Digital Asset)