South Korea Plans Crypto Law as Tax Repeal Reaches Committee
The proposal would cover stablecoin issuance, exchange rules and system-resilience standards as lawmakers weigh a repeal of the 20% crypto income tax.
- South Korea's Financial Services Commission reportedly plans to draft a consolidated Digital Asset Basic Act with the ruling Democratic Party, providing a unified framework for stablecoin and cryptocurrency regulation after months of legislative delays.
- Currently, 10 separate digital asset bills remain pending in the National Assembly as disagreements over bank-ownership rules for stablecoin issuers and exchange regulations have prevented South Korea from finalizing second-stage crypto legislation.
- Separately, the National Assembly's Finance and Economic Planning Committee was scheduled to table an opposition bill on Wednesday that would abolish South Korea's crypto income tax before its Jan. 1, 2027 implementation, according to an Edaily report.
- Under current law, income from crypto transfers exceeding 2.5 million won, or about $1,700, faces a 20% tax plus 2% local levy; a separate repeal petition backed by more than 50,000 people is also seeking committee review.
- People Power Party lawmaker Song Eon-seok introduced the tax repeal amendment in March, though neither the tax subcommittee nor the broader legislative body has set specific review dates for the measure.
17 Articles
17 Articles
South Korea Revives Its Crypto Tax Plan. Parliament Will Decide Whether It Survives
South Korea is once again preparing to tax cryptocurrency profits, setting up another political battle over investor protection, overseas trading and the future of digital asset regulation.
South Korea Plans Crypto Law as Tax Repeal Reaches Committee
South Korea’s Financial Services Commission (FSC) reportedly plans to draft a consolidated Digital Asset Basic Act with the ruling Democratic Party, giving lawmakers a government-backed proposal covering stablecoins and the broader cryptocurrency market after months of delays. According to an Edaily report published Wednesday, the FSC told the National Assembly ahead of a policy briefing that it intends to introduce a consolidated bill. The prop…
Crypto Today: Samsung Collaboration, Luno Layoffs, Hungary Lifts Conversion Checks
Today in crypto, Samsung SDS and Upbit parent Dunamu are mulling a Stablecoin collaboration, Luno plans layoffs and Hungary removed mandatory third-party checks for crypto conversions.
South Korea's Stablecoin Gap: Hashed and Solana Policy Institute Push for Interim Rules
South Korea needs interim stablecoin rules. Fast. That’s the core message from a new policy report by Hashed Open Research… Read the original on South Korea’s Stablecoin Gap: Hashed and Solana Policy Institute Push for Interim Rules. For more crypto news and analysis, visit TheCurrencyAnalytics.com.
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
