"You're not ready, but you just kick the ladder"... virtual asset taxation is postponed again [Anchor Report]

The taxation of virtual assets amid controversy was eventually delayed for another two years.

Let's take a look at the postponement decision, which came a month before its implementation.

The main reason is that I'm not ready to collect my taxes yet.

To tax, you first need to secure the investor's financial information,

Investment information on domestic exchanges can be collected by the IRS without difficulty, but

Investment information on overseas exchanges requires cooperation from companies.

The government recently agreed to share coin transaction information between 48 major countries starting in 2027 as the 'Crypto Asset Reporting System Multilateral Information Exchange Agreement (CARF MCAA) was reached

plans to have all the financial information collection systems of foreign investors in time.

Another reason is that market confusion should be minimized until the relevant laws are in place.

The logic is that it takes time for the "Virtual Asset User Protection Act" and the so-called Virtual Asset Act, which took effect in July, to take place.

The Virtual Asset Act regulates exchanges to detect coin market price manipulation, etc.

It is pointed out that the definition of the responsible person or the identification of negligence is not yet clear.

In addition to the hot taxation issue, there have been concerns that it could shock the virtual asset market.

And this is why it is important to worry about the outflow of investment funds that have been raised in the market since the beginning of the taxation discussion.

It has been predicted that funds will flow out to overseas exchanges where it is difficult to track investment information if taxation starts without careful preparation.

That would not only dampen the domestic market but also increase the possibility of tax avoidance.

Above all, opposition from the younger generation, who make up the majority of virtual currency investors, is loud.

According to a survey by the Financial Information Analysis Institute, as of the end of June, there were 7.88 million domestic virtual asset investors, of which 48% were in their 30s or younger and 76% were included in their 40s.

They have protested, saying, "Taxing coins while suspending financial investment income taxes on stocks is a clear discrimination," and "It is intended to take away the means of asset growth for young people."

It is analyzed that the politicians were forced to be conscious of their votes when they returned to the postponement a month before its implementation.

In the end, sophisticated measures are needed for virtual asset taxation, tax principles and market predictability, which have been delayed for another two years.