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93% of Crypto Industry Seeks Delay in Korea’s Virtual Asset Tax

93% of Crypto Industry Seeks Delay in Korea’s Virtual Asset Tax

An electronic board at the Bithumb cryptocurrency exchange lounge in Seoul's Seocho district displays prices of bitcoin and other digital assets. Yonhap News - Seoul Economic Daily Finance News from South Korea
An electronic board at the Bithumb cryptocurrency exchange lounge in Seoul’s Seocho district displays prices of bitcoin and other digital assets. Yonhap News

More than nine in 10 digital asset industry officials and experts in South Korea want the country’s planned taxation of virtual assets postponed, according to a survey released ahead of the levy’s scheduled start next year. They cited difficulty in obtaining transaction records from overseas exchanges and private wallets, as well as unclear tax standards for newer transaction types such as staking and airdrops. Industry officials warn that pushing ahead with taxation without adequate groundwork could accelerate an exodus of domestic investors to overseas exchanges.

In an urgent…

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