The Korean Ministry of Finance and Economy and the IRS have reaffirmed the policy of taxing digital assets

according to digital asset, the ministry of finance and economy of korea and the irs reiterated that the income from the transfer or loan of digital assets deposited in a person ' s own safe wallet and in an overseas exchange is, in principle, taxable without distinction as to the place of deposit or the channel of dealing. the korean encryption asset tax scheme is classified as other income, with a deduction limit of 2.5 million won and a tax rate of 20 per cent, and is expected to be officially implemented on 1 january 2027. in response to the difficulty of tracing individual wallets, the korea irs indicated that it would introduce a chain-based transaction tracking and analysis procedure to fill the tax gap for overseas exchanges, and that it planned to collect transaction data through the offshore financial account declaration system and the encrypted assets automatic information exchange mechanism (carf). at the same time, both sectors are reviewing the tax criteria for pledge, loan, air drop and hard-drive assets, but both indicate that it is currently difficult to predict the exact size of the tax。