South Korea Defers Cryptocurrency Asset Taxation for Fourth Time, Extending Deferral by 2 Years on Nov 11

On November 11, South Korea's Deputy Prime Minister and Finance Minister Lee Hyung-il expressed regret over the fourth deferral of cryptocurrency asset taxation for another two years. Lee stated, "After three previous deferrals, we are now deferring for another two years, which weighs heavily on me, and I express regret."

The government cited ongoing fairness concerns between domestic and overseas-based investors, as well as gaps in the Digital Asset Basic Law framework, as reasons for the extended deferral.

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