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Crypto Industry Calls for Delay in Tax Implementation and Regulatory Overhaul
Commercial Services · Financial Publishing/Services · yonhap_finance · 2026-09-10
The DAXA coalition has requested a postponement of the upcoming crypto tax, citing infrastructure gaps and the need for fairer deduction policies.
What Happened
Call for Implementation Delay: The cryptocurrency industry is urging authorities to postpone the tax on crypto assets scheduled for next January, citing a lack of standardized infrastructure and preparation time. Industry representatives argue that current systems are unable to automatically link data with tax authorities, necessitating a more robust framework before implementation.
Proposed Tax Reforms: The industry is pushing for an increase in the annual tax-free threshold beyond the current 2.5 million KRW and the introduction of a loss carry-forward provision of at least five years. They also highlighted the need for clear legal interpretations regarding the classification of crypto income to avoid potential tax disputes.
Privacy and Enforcement Concerns: Concerns were raised regarding the potential for excessive exposure of personal information, such as private wallet addresses, which could lead to significant privacy-related complaints against service providers. Furthermore, the industry emphasized that tax enforcement on assets moved offshore requires a more practical and well-designed approach.
Standardization of New Assets: The industry called for the urgent establishment of clear guidelines for various crypto-related activities, including staking, lending, and airdrops. While acknowledging the long-term necessity of taxation, the industry insists that regulatory stability and infrastructure verification must precede any tax enforcement.