According to Cointelegraph, the Seoul government is reportedly considering another delay for a 2020 income tax policy on digital assets. Lawmakers are evaluating whether to postpone full implementation of the tax rule beyond its originally planned timeline, with some suggesting adoption could occur no earlier than 2029. The decision reflects ongoing review of practical challenges related to enforcement, taxpayer compliance and regulatory alignment.
The policy originated in 2020 as a measure to address taxation of digital assets held by individuals. Officials have expressed concerns about operational feasibility, including accurate valuation of volatile assets and ensuring consistent application across different types of holdings. These considerations are central to the current assessment by legislative and administrative representatives.
