SvmuuNews: South Korea's Ministry of Economy and Finance stated that tokenized stocks are considered securities, not virtual assets. If the Financial Services Commission confirms their security nature, taxation can be implemented immediately under the current Capital Markets Act, potentially as early as the second half of this year.
An official from South Korea's Ministry of Economy and Finance noted that while tokenized stocks may take the form of virtual assets, they are essentially closer to securities. The Financial Services Commission had previously clarified in its Token Securities Guidelines that token securities are securities issued in the form of digital assets and fall under the jurisdiction of the Capital Markets Act. Currently, the market generally views tokenized stocks as virtual assets, which are non-taxable assets and can enjoy tax exemption until the implementation of virtual asset taxation next year. The Ministry of Economy and Finance has emphasized its stance on taxation and is establishing an information exchange system with overseas tax authorities, including the U.S. Internal Revenue Service. (bloomingbit)