"Cryptocurrency taxation should be abolished rather than postponed again"

It has been argued that the cryptocurrency taxation system, which remains a source of anxiety for investors as its implementation has been delayed multiple times, is still insufficient to be implemented.

Kim Gaprae, Director of the Capital Market Research Institute, participated in the seminar 'Who are Korea's Digital Asset Investors?' hosted by Democratic Party member Min Byung-duk at the National Assembly on the 6th, stating, "Rather than postponing cryptocurrency taxation once more, it would be appropriate to follow the path of abolition, similar to the Financial Investment Income Tax."

In particular, Director Kim expressed concern about the lack of attention to the cryptocurrency taxation system, which has been postponed several times. He said, "The authorities and the National Assembly recognize that the repeated postponement of cryptocurrency taxation is a problem," but pointed out that "there is no discussion on how to respond to this or specific measures, and no task force (TF) has been established for this matter."

He also criticized the unclear taxation system compared to other countries. Director Kim stated, "Countries like the United States and the United Kingdom already classify Bitcoin (BTC) as an investment asset and tax it accordingly," adding, "Considering these overseas taxation legislative examples, I believe it should be classified as capital gains tax rather than being separately taxed as other income." He also added, "There are complex issues involved, such as health insurance premium impositions."

Director Kim emphasized, "We need to clarify the taxation principles for various cryptocurrency incomes, such as income from cryptocurrency lending, blockchain verification, hard forks, and airdrops, and prevent another postponement of income taxation implementation on January 1, 2027."