South Korea moves to tax crypto airdrops and staking rewards

The South Korean government is planning to bring income from cryptocurrency activities such as airdrops and staking rewards under its tax system, the Korea Economic Daily reported exclusively. According to ministry sources, the National Tax Service commissioned a research project late last year to reform the country's virtual asset tax framework. The core of the study is to review the adoption of a "comprehensive principle" for crypto taxation, an approach that would treat any economic benefit as taxable even if it is not explicitly listed in the law. A government official stated that authorities have settled on introducing this principle for virtual asset taxation. The official added that they are currently reviewing whether a legislative amendment is required and that discussions among related ministries will begin once the research is concluded.