South Korean independent lawmaker Han Dong-hoon has called for another postponement of the country’s digital-asset tax, which is currently due to take effect in January next year. He argued that the government should not move ahead until investor protections and the systems needed for fair taxation are properly in place.
In a social media post on September 19, Han said digital-asset taxation should not be pushed through while broader policy work remains unfinished. He framed the issue as one of sequencing, saying regulation and market safeguards should come before taxation.
Tax timing becomes a political issue
Han’s comments directly challenged finance minister nominee Lee Hyoung-il, who has said the tax should be implemented on schedule. According to Han, that approach puts the priorities in the wrong order.
He said the more urgent task is to build an environment in which people holding digital assets are adequately protected, rather than starting tax collection before the legal and administrative framework is ready.
Han says core rules are still missing
In his post, Han said the government should first establish rules for classifying digital assets, setting issuance requirements, and defining the relevant supervisory authorities and standards.
He linked those gaps to the long-delayed second phase of South Korea’s digital-asset legislation. Han said discussions on that package have continued for more than a year, but the debate has repeatedly stalled even though those provisions are needed before taxation is introduced.
Concerns over tax infrastructure and revenue rationale
Han also argued that South Korea still lacks the infrastructure required to tax digital assets properly. In his view, the systems needed to administer the levy fairly have not yet been built.
He further contended that the current push is not really about raising additional revenue. Han said tax receipts are already running above target, helped by extra revenue linked to a semiconductor boom, and cited that as another reason not to rush implementation.
Call for debate before any implementation
Han concluded that virtual-asset taxation should not begin now and should be delayed again. If the Democratic Party government remains intent on enforcing the measure, he said it should first open a proper debate on the issue rather than use its numerical majority to push the plan through.
For now, the next confirmed milestone remains the scheduled January start date for the tax. Han’s intervention highlights that, at least for some lawmakers, the unresolved phase-two legislation and missing tax systems remain central obstacles to implementation.
Source: en.bloomingbit.io