South Korea's ruling party calls for review of digital asset tax
- —The People Power Party proposes reviewing the timing and mechanism of the digital asset tax due to start in January
- —A key problem is the inability to confirm the acquisition cost of assets held on overseas exchanges and in personal wallets
- —There are no clear tax rules for staking, DeFi, or non-residents
- —DAXA says the tax system must be linked to a basic digital asset law
Why it matters: A possible delay or revision of the tax would ease regulatory pressure on South Korean investors and exchanges in the near term.
Source: Blockmedia