韓國代幣化架構師再次希望推遲加密貨幣稅收

據週四（10月1日）提交的一項新提案顯示，韓國金融服務委員會（FSC）計劃允許在韓國進行股票、債券和基金的代幣化交易，該計劃將於2027年2月4日啓動。 

隨着跨黨派支持推遲原定於1月1日生效的加密貨幣所得稅制度，韓國擴大代幣化的舉措順勢推進，執政黨與反對黨議員紛紛加入其中。

韓國擬推行股票、債券和基金的代幣化 

FSC已設立窗口期（2026年10月2日至11月11日），就《金融投資服務與資本市場法》及《電子註冊法》下的從屬法規徵求公衆意見。 

兩項父母法律均將於2027年2月4日生效，將擴大該國代幣化的範圍。現行制度僅允許以區塊鍊形式代表 fractional 投資產品。 

今日提出的提案將把覆蓋範圍擴展至傳統證券，包括股票、債券和基金。該 FSC的聲明 確認將其與非貨幣信託受益證書和投資合同證券並列。 

The 推出工作正在推進中 根據監管機構於9月4日製定的分階段但靈活的時間表進行。 

• 第一階段：面向機構投資者的私募貨幣市場基金和債券、通過信託結構持有的未上市股票，以及公開發行的 fractional 投資證券。 
• 第 2 階段：公開發行的證券 
• 第 3 階段：與穩定幣掛鉤的鏈上結算層。

誰可以在韓國發行代幣化證券？ 

FSC草案列出了發行人在該國發行代幣化證券必須滿足的條件，包括在韓國證券存管處共享分佈式賬本，以及至少兩家賬戶管理實體。監管機構還澄清，不得就使用賬本收取直接費用。

新的“發行人賬戶管理實體”類別現允許發行代幣化證券的公司同時管理客戶賬戶。過去只有金融機構才能提供此項服務。 

然而，有意進入“發行人賬戶管理實體”類別的公司必須先滿足FSC的某些條件： 

• 股本資本至少須達到 4 億韓元 
• 配備包含一名賬戶管理專家、一名內部控制專家和兩名IT專家的團隊。

在交易方面，該提案增加了債務證券的場外交易許可單元，與現有的非上市股票和非貨幣信託受益權證書單元並列。 

FSC還爲零售投資者設定了投資者保護限額，規定其在每個場外交易所的年淨購買額上限爲1億韓元。

同一批議員希望再次推遲實施1月的加密貨幣稅

隨着該框架的推進，針對定於1月1日實施的加密貨幣所得稅的壓力正在增大。該稅種將轉讓或出借數字資產產生的收益視爲雜項收入，對超過250萬韓元扣除額後的年度收益按20%的稅率徵稅。 

Cryptopolitan報道，加上2%的地方附加稅後，實際稅率達到22%。2027年獲得的收益將於2028年5月首次申報並繳納稅款。

要求推遲稅收制度的呼聲來自 政治對立雙方的,6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" ,"} {" :",6" , ",7" :",8" ,",9" :",10" , 

據 《韓國時報》 和 Cryptopolitan 報道，宋恩錫議員提議廢除稅收條款，鄭成國議員提出從 2030 年開始，金尚勳議員則建議從 2029 年開始。

這是繼三次延期後的第四次延期

行業界和投資者也持相同觀點。數字資產交易所聯盟已告知立法者，目前交易所仍缺乏與監管機構之間的標準化數據網絡，需要更多時間進行構建和測試。 

Tiger Research 與 Chainalysis 聯合開展的一項調查顯示，在受訪的 2,423 名韓國投資者中，有 73.7% 反對該計劃， 《韓國時報》報道, 同時一份尋求推遲實施的公民請願書已收集到超過 50,000 個簽名，並已提交至國會戰略與財政委員會，據 Cryptopolitan 報道。

政府立場堅定。財長李炯一於 9 月 28 日支持於 1 月啓動該計劃，並表示 85% 的投資者持有的加密貨幣價值低於 500 萬韓元，扣除後幾乎無需繳稅或完全免稅。 

該稅收政策原定於 2022 年實施，但已三次延期，分別推遲至 2023 年、2025 年和現在的 2027 年，因此此次推進將是 第四次延期.

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