Crypto · November 4, 2026
South Korea’s ruling party formally proposes deferral of crypto income tax
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South Korea's ruling party has formally proposed delaying the implementation of a crypto income tax, while financial regulators have concurrently ordered domestic exchanges to enhance security measures. The People Power Party argues that a comprehensive legal framework, the Digital Asset Basic Act, must be established before taxation begins. Meanwhile, the Financial Services Commission (FSC) requested that exchanges increase cold-wallet custody and strengthen monitoring systems following a security breach at Binance on Oct. 30.
Read the original coverage
- The BlockCrypto trade press
South Korea’s ruling party formally proposes deferral of crypto income tax
Read at The Block ↗ - CoinDeskCrypto trade press
South Korea's ruling party wants to delay its crypto tax again
Read at CoinDesk ↗ - CryptoSlateCrypto trade press
South Korea orders massive crypto wallet lockdown following the Binance hack
Read at CryptoSlate ↗
Hype check
How the hype check worksConfirmed · 2
Backed by filings, on-chain data, official statements or several independent publishers.
- South Korean ruling party proposed deferring crypto income tax (People Power Party)
- FSC requested higher cold-wallet custody and monitoring (Financial Services Commission)
Claimed · 1
Said by a company, project or person; not yet independently confirmed.
- Taxation should wait for the Digital Asset Basic Act (People Power Party leader)
Speculation · 0
Price talk, forecasts or unnamed sources, quoted as someone else's view.
- None identified.
Reported by only some outlets
- The People Power Party proposed a two-year deferral of the crypto income tax according to CoinDesk.
- The Block and CoinDesk report the ruling party wants to enact the Digital Asset Basic Act before taxing crypto.
- The FSC requested higher cold-wallet custody for customer assets at a Nov. 2 meeting as reported by CryptoSlate.
- CryptoSlate reports that the FSC measures were prompted by a Binance hack occurring on Oct. 30.
Industry-friendly coverage frames it as…
emphasize the need for a comprehensive legal framework and enhanced security measures following exchange breaches
Skeptical / consumer coverage frames it as…
highlight the repeated nature of tax delays and the lack of specific implementation details for new security mandates
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