가상자산 과세 규제에 대한 비교법적 연구- 입법·행정·정책적 관점에서 A Comparative Study of Tax Regulations on Digital Assets - Legislative, Administrative, and Policy Perspectives -

This paper explores and compares the tax regulations and guidelines governing digital assets in South Korea and the United States, with a focus on their legal and administrative frameworks. By incorporating insights from behavioral economics into established legal principles, the study evaluates how existing taxation systems respond to the distinct characteristics of digital asset markets and identifies key areas for improvement. The paper defines the concept and scope of digital assets and classifies relevant transactions into creation-stage activities, such as mining, staking, airdrops, and hard forks, and transaction-stage activities, including exchanges, purchases of goods or services, disposals, and investment holdings. In the United States, digital assets are treated as property and taxed under general income tax principles, supported by detailed Internal Revenue Service(IRS) guidance. Income from mining, staking, and airdrops is taxed upon creation based on their fair market value, while capital gains tax applies at the transaction stage in accordance with the realization principle. By contrast, South Korea’s enumerated income tax system requires explicit statutory grounds, and the taxation of digital assets has been repeatedly deferred through legislative postponements. To assess these frameworks from a policy perspective, the study applies four evaluative principles: taxation based on substance over form, consistency with existing tax systems, regulatory clarity and predictability for taxpayers, and efficiency in tax administration and enforcement. The analysis finds that U.S. regulations largely satisfy these criteria by maintaining coherence with the existing tax system and providing relatively clear and predictable guidance. In contrast, South Korea’s framework lacks clarity in defining taxable digital asset income and delineating the scope of taxation, with frequent legislative changes undermining predictability and the application of substantive taxation principles. Based on this analysis, the paper proposes a rational income tax framework for digital assets that emphasizes taxation within the existing income tax system, clearer statutory guidance, and a calibrated approach to taxable events that reflects both market characteristics and enforcement feasibility.