Han Dong-hoon Advocates for Additional Delay in Digital Asset Taxation

Independent lawmaker Han Dong-hoon has argued that the implementation of digital asset taxation, scheduled for January next year, should be further postponed. He pointed out that if taxation begins while the tax authorities are unable to adequately grasp transactions through overseas exchanges and personal wallets, it could lead to issues of fairness. In a Facebook post, he emphasized that preparations for digital asset taxation are still not ready, stating that tracking transactions on overseas exchanges is nearly impossible. He also raised doubts about the effectiveness of the government's proposed Crypto Asset Reporting Framework (CARF), revealing that the volume of transactions it can cover is less than 20%. He warned that investors are likely to move to overseas exchanges or personal wallets after the tax is implemented, highlighting the issue of tax fairness. He also mentioned that a recent public petition demanding a delay in digital asset taxation has garnered over 50,000 signatures, indicating a strong desire for a tax postponement.

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