South Korea's Ministry of Finance: Tokenized stocks are considered securities, not virtual assets, and may be taxed as early as the second half of the year.

CoinFeed reported on June 12 that, according to Bloomingbit, South Korea's Ministry of Finance and Economy stated that tokenized stocks are considered securities rather than virtual assets. If the Financial Services Commission confirms their securities status, they can be taxed immediately under the current Capital Markets Act, possibly as early as the second half of this year. Ministry of Finance officials pointed out that while tokenized stocks are virtual assets in form, they are more closely related to securities in substance. The Financial Services Commission has previously clarified in its guidelines on tokenized securities that tokenized securities are securities issued in the form of digital assets and fall under the jurisdiction of the Capital Markets Act. Currently, the market generally considers tokenized stocks to be virtual assets (non-taxable assets) and eligible for tax exemption until the implementation of virtual asset taxation next year. However, the Ministry of Finance emphasized its taxation stance and is establishing an information exchange system with overseas tax authorities such as the U.S. Internal Revenue Service.