According to CoinMeta, the South Korean government has confirmed that starting from January 1, 2027, crypto income generated by overseas exchanges and private wallets will be subject to the planned 22% digital asset tax. According to responses from the Ministry of Economy and Finance and the National Tax Service, the transfer or lending of digital assets will not be affected by the location where the assets are held or the method of storage. Under the current framework, digital asset income will be classified as other income, with a annual basic deduction of 2.5 million Korean won. Income exceeding this threshold will face a national tax of 20%, and the highest combined tax rate after local taxes is 22%. Despite calls from the People's Power Party to abolish or postpone this tax, the government insists on implementing it as planned. The tax service stated that South Korean residents who earn income from the transfer or lending of digital assets, whether the assets are in overseas exchanges or private wallets, are required to pay taxes.