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South Korea’s Democratic Party Weighs Further Delay to Crypto Tax, to Consult Government After Caucus Meeting

South Korea’s Democratic Party Weighs Further Delay to Crypto Tax, to Consult Government After Caucus Meeting

  • South Korea’s Democratic Party said it is reviewing ways to revise the system, including a further delay, ahead of the planned January launch of virtual-asset taxation next year.
  • The party said it will gather views at a general meeting of lawmakers on adjusting the implementation timing and improving the system, consult with the government, and also speed up legislation on the Digital Asset Basic Act.
  • Virtual-asset taxation was introduced through a December 2020 revision to the income tax law, but implementation has been postponed three times, and the presidential office is also discussing a further delay to the start of taxation.

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Photo: Democratic Party of Korea
Photo: Democratic Party of…

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