South Korea's National Tax Service warned that phishing emails posing as virtual-asset tax notices are circulating ahead of the country's planned Jan. 1, 2027 start of crypto taxation, with some recipients reporting personal information leaks after clicking malicious links or attachments. Under the current Income Tax Act, annual income from transferring or lending virtual assets above 2.5 million won, about $1,770-$1,800, would be taxed as miscellaneous income at a combined 22% rate. The government says it will proceed as scheduled while refining detailed rules on acquisition costs, staking, airdrops, hard forks, token swaps and overseas exchange income, but the rollout remains politically contested as People Power Party lawmakers pursue bills to delay the levy to 2029 or 2030 or remove the related provisions altogether. Critics also argue that taxing crypto after abolishing the financial investment income tax on stocks is unfair and point to the lack of loss carryforwards, while tax officials say new cross-border reporting under CARF should improve visibility into assets held on overseas exchanges.