South Korea Reviews 2027 Crypto Tax Plan Amid Reporting Gaps

South Korea is cautiously reviewing whether to implement virtual-asset taxation in 2027, as gaps in transaction-record tracking raise questions about enforcement and revenue estimates.

The country’s deputy prime minister and finance minister said the government will gather opinions from lawmakers, experts, industry participants and other stakeholders before evaluating the policy. The review comes months before the planned tax start date.

Lawmaker Kim Sang-hoon questioned whether the necessary infrastructure is ready, including systems to track and verify transaction records from overseas exchanges, decentralized exchanges and decentralized finance platforms.

The finance minister said the government cannot yet accurately estimate the revenue the tax could generate. Those estimates will depend on taxpayer-reporting data, which officials expect to begin collecting after a reporting system launches next year.

The policy review leaves the 2027 implementation plan subject to further assessment and consultation.