According to Yonhap News, Lee Eok-won, Chairman of the Korea Financial Services Commission, stated on October 22 during a parliamentary audit that various circumstances and differing opinions should be fully considered regarding the cryptocurrency tax system scheduled to take effect on January 1, 2027. Previously, South Korean lawmaker Song Yeon-seok proposed that taxation should not proceed until the legal status and regulatory framework for digital assets are clearly defined, suggesting the abolition or further postponement of the tax system. Lee responded that the government is in the final stages of negotiations on the Digital Assets Basic Act and will expedite legislative discussions; fiscal and economic agencies are also seeking input from stakeholders on cryptocurrency taxation. Since its establishment in 2020, South Korea’s cryptocurrency tax system has been delayed three times. The government is currently proceeding with preparations for implementation on January 1, 2027, and has not yet decided whether to postpone it again. https://t.co/RD0B3qgbCP