The cryptocurrency tax policy in South Korea is still under consideration.
On June 24, the National Policy Planning Committee (NPPC) under the President of South Korea held a regular press conference, confirming that there has been no specific discussion on the implementation of a cryptocurrency tax policy. The spokesperson for the NPPC emphasized that the contents in the report are only policy ideas, not tasks that have been finalized.
All mentioned items are currently not considered official policies to be applied. The NPPC will continue to discuss in more detail at the Tax and Financial Reform Task Force meeting scheduled for June 26. The outcome of this meeting will determine the official public content framework regarding cryptocurrency taxation policy in the future.
Infrastructure challenges may push cryptocurrency taxation to 2027.
Earlier, in the report on June 17, the State Council mentioned plans to expand the tax system for new economic assets, notably Bitcoin along with other cryptocurrencies. However, the specific implementation of the tax policy is determined to face many obstacles due to the incomplete legal and technical infrastructure.
These limitations are delaying the implementation of taxes on digital assets, with the possibility of extending until 2027. This is a sign that financial policy in South Korea is still being refined to ensure feasibility while balancing control and the development of the cryptocurrency market.
The information above reflects South Korea's cautious and reasoned approach to the issue of taxing digital assets. This contributes to creating transparency but does not yet put excessive pressure on the vibrant cryptocurrency market in this country. Market participants need to closely monitor policy developments from the authorities to stay updated and prepare to adapt to the new legal environment.
Source: https://tintucbitcoin.com/cap-nhat-thue-tien-dien-tu-han-quoc/
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