The South Korean government will listen to the opinions of the five major cryptocurrency exchanges on October 20, and the taxation of virtual assets may be postponed again

According to a report by the Korean News Agency, the South Korean government will convene representatives from the five major virtual asset exchanges—Upbit, Bithumb, Coinone, Digital X, and GOPAX—along with DAXA executives on October 20 to gather industry opinions regarding the virtual asset tax originally scheduled to be implemented in January 2027.

The current proposal aims to impose a 22% income tax and local income tax on virtual asset transfers and lending income after deducting a basic tax exemption of 2.5 million Korean won. This tax policy has been postponed three times since it was proposed in 2020, and the government is still advancing preparations according to the original schedule. The National Tax Service of Korea is expected to release a related announcement in November.

In addition, South Korea's financial regulatory authorities are accelerating the advancement of the government draft for the "Basic Law on Digital Assets," which is expected to be completed by the end of this month and initiate related consultation procedures.