South Korea’s opposition parties oppose delaying cryptocurrency taxation plan

Odaily News Noh Jong-myun, spokesman for the Democratic Party of Korea, said that it was "unacceptable" for the ruling party to postpone the implementation of the virtual asset tax plan for two years. (News1) Earlier news, South Korean political parties recently reached an agreement to cancel the planned financial investment income tax. The cryptocurrency capital gains tax originally planned to be implemented in 2025 is now more likely to be postponed to 2027. The South Korean government proposed a tax law amendment in July that included the postponement of cryptocurrency capital gains tax, but due to the Democratic Party's opposition to the government's other tax reduction policies, the passage of the amendment has been uncertain.