According to Odaily Planet Daily, South Korea's Ministry of Strategy and Finance (MOEF) is re-evaluating the virtual asset taxation plan originally scheduled to be implemented in January next year. This assessment takes place before the announcement of the tax law amendment scheduled to be announced next month, which is in stark contrast to the department's insistence earlier this year that it will proceed as planned and will not re-evaluate.
Experts have expressed concerns about the current tax framework, arguing that it is unable to effectively deal with the anonymity and decentralized nature of virtual assets. Notably, a recent Congressional Budget Office study highlighted significant flaws in current legislation, particularly the reliance on cryptocurrency exchanges to provide transaction records required for tax purposes.