[South Korea's National Tax Service Plans to Announce Virtual Asset Taxation Standards in November] According to Deep Tide TechFlow on October 14, citing Yonhap News Agency, Lim Kwang-hyun, Commissioner of South Korea's National Tax Service, stated during the National Assembly's Strategy and Finance Committee audit that the National Tax Service is preparing to release an announcement in November detailing taxation standards for virtual assets. Lim Kwang-hyun emphasized that for transaction types such as airdrops, hard forks, staking, and decentralized finance (DeFi), the taxation standards will focus more on economic substance rather than the form of the transaction. The key determining factor will be whether the transaction constitutes a transfer or a loan. For instance, if airdrops and hard forks exhibit characteristics of transfers or loans, they should be considered taxable. However, specific details regarding staking and other aspects still require consultation with the Ministry of Economy and Finance. Regarding the progress of tax system development for the five domestic virtual asset exchanges, the National Tax Service is maintaining communication at the working level. Even with the implementation of the Crypto-Asset Reporting Framework (CARF), challenges remain for global tax regulation in areas such as peer-to-peer wallet transactions and other on-chain blind spots, necessitating continued international cooperation.