The taxation of virtual assets in South Korea may face a fourth delay, with uncertain prospects for implementation before 2027

According to a report by Kim Gap-lae, a senior researcher at the Korea Capital Market Institute, the virtual asset tax policy originally scheduled for implementation in 2027 may face a fourth delay. Despite having already experienced three postponements, key institutional flaws remain unresolved, including the lack of clear definitions and standards for various forms of income such as lending profits, airdrops, and hard forks.

In particular, the tax rules for overseas exchanges and peer-to-peer (P2P) transactions are almost nonexistent, which could lead to an unfair tax burden between domestic exchange users and overseas platform users. The government expects to achieve comprehensive taxation only after the 48-country virtual asset information-sharing agreement takes effect in 2027.

Experts recommend establishing a "Special Task Force for the Reform of the Virtual Asset Tax System" to clarify the tax rules for various types of income and to create an information collection system connected to exchanges and personal wallets to ensure the smooth implementation of the policy. Currently, South Korea has approximately 10.77 million virtual asset users, a number close to that of stock investors.