South Korea's Ministry of Economy and Finance holds talks with five exchanges: No clear decision yet on postponing or abolishing virtual asset taxation

October 21 — According to Yonhap News Agency, South Korea's Ministry of Economy and Finance has convened a meeting on virtual asset taxation together with five exchange operators — Dunamu, Bithumb, DigitalX, Coinone and Streami — as well as institutions including South Korea's Financial Services Commission, to discuss current taxation rules, market conditions and tax preparation work, as well as postponing or abolishing the tax, but no clear decision was made on the relevant measures.

It is reported that South Korea's virtual asset taxation policy was finalized in 2020, originally scheduled for implementation in 2022, and has since been postponed successively to 2023, 2025 and 2027. South Korea's National Tax Service is currently preparing the relevant detailed rules, but matters such as staking still need to be negotiated with the Ministry of Economy and Finance. If the detailed rules are announced next month, only about two months will remain before the planned implementation date.