South Korea's Ministry of Strategy and Finance has begun reviewing the postponement of virtual asset taxation

South Korean Ministry of Strategy and Finance has begun reviewing the postponement of virtual asset taxation, with plans to implement it in January next year. Experts point out that there is currently no realistic alternative to dealing with the anonymity of virtual assets. Before announcing the tax law amendment at the end of next month, the ministry is investigating whether virtual asset taxation will be implemented as planned. Previously, South Korean Deputy Prime Minister and Minister of Economy and Finance, Choi Sang-mok, said at a press conference in the government's Sejong office that we still have time before the tax law amendment is formulated, so we will consider postponing virtual asset taxation.

Virtual asset taxation was scheduled to be implemented in January next year, but it has been postponed twice due to reasons such as the imperfect systems of tax authorities and cryptocurrency exchanges.