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The ruling Democratic Party of Korea (DPK) formally proposed that the government postpone the implementation of taxation on cryptocurrencies, which was set to take effect next year. Kim Min-seok, the DPK representative, requested an additional deferral of the virtual asset income tax scheduled for next January during a supreme council meeting on November 4, citing the Financial Economics Committee of the National Assembly as a key point of discussion. The party's decision follows previous delays and growing caution from the government and lawmakers regarding the tax's implementation. Korea Times reports that the planned tax on crypto asset income, originally scheduled for January 2027, is increasingly likely to face another postponement.