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Ruling party proposes fourth delay of crypto tax
The ruling Democratic Party of Korea formally proposed on Nov. 4 that the government postpone the planned taxation of cryptocurrency, which is set to take effect next year, according to the Korea Times and Yonhap. The party's supreme council made the decision, though the documents do not name Kim Min-seok as the proposer. The tax on crypto asset income, scheduled for January 2027, is increasingly likely to be delayed again, with the government and lawmakers leaning toward postponement citing inadequate preparation, Business Korea reports. This would mark the fourth delay, with some pushing the start to 2029, as investors, the industry and lawmakers from across parties have called for postponement amid the government's cautious stance and low approval ratings, the Korea Times reports.
