The South Korean Ministry of Economy and Finance is re-evaluating the virtual asset taxation plan originally scheduled to be implemented starting in January next year

ChainCatcher news, according to Newsis, the South Korean Ministry of Economy and Finance (MOEF) is reassessing the virtual asset taxation plan originally scheduled to be implemented starting January next year.

This reassessment comes ahead of the announcement of a tax law amendment set to be published next month, contrasting sharply with the department's earlier stance this year, which insisted that the plan would proceed as scheduled without reassessment. Experts have expressed concerns about the current tax framework, arguing that it fails to effectively address the anonymity and decentralization characteristics of virtual assets.

Notably, a recent study by the National Assembly Budget Office highlighted significant flaws in the current legislation, particularly the reliance on cryptocurrency exchanges to provide the transaction records required for taxation.