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DP proposes delaying crypto tax for a fourth time

DP proposes delaying crypto tax for a fourth time

The ruling Democratic Party wants to postpone Korea’s crypto gains tax until a broader digital asset law is in place.

Democratic Party leader Kim Min-seok bangs the gavel to open the party’s Supreme Council meeting at the National Assembly in western Seoul on Nov. 4, where the party formally proposes deferring the tax on cryptocurrency gains.

The ruling Democratic Party (DP) formally proposed that the government push back a tax on cryptocurrency gains for a fourth time. The party wants a basic law on digital assets in place first.

“The DP is formally proposing to the government that the tax on virtual asset income…

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