South Korea’s opposition policy chief addresses feasibility of implementing crypto tax

Jin Seong-jun, the main opposition Democratic Party of Korea’s (DPK) policy committee chair, recently addressed concerns about the feasibility of implementing a crypto tax in South Korea. Following a parliamentary meeting on Nov. 22, he told reporters that there are no technical or practical challenges to imposing the tax on crypto gains, as transactions can be tracked through local trading platforms, according to Edaily. He acknowledged, however, that tracking transactions on overseas exchanges presents challenges unless users report them voluntarily. Despite this limitation, he noted that the situation is set to change in 2027 when the Organisation for Economic Co-operation and Development (OECD) plans to begin sharing cryptocurrency transaction data between member countries.