After South Korea abolished the financial investment tax plan, the possibility of delaying the taxation of cryptocurrency for two years increased

Odaily Planet Daily News According to the recent protocol reached by various political parties in South Korea to cancel the planned financial investment income tax, the originally planned Cryptocurrency capital gains tax, which was scheduled to be implemented in 2025, is now more likely to be postponed to 2027. A member of the South Korean Democratic Party stated that it is now considered necessary to postpone the Cryptocurrency capital gains tax in order to maintain fairness. The South Korean government proposed a tax law amendment in July, which includes the postponement of the Cryptocurrency capital gains tax, but due to the Democratic Party’s opposition to other tax reduction policies of the government, the passage of this amendment has been uncertain. Democratic Party member Min Byoung-dug emphasized the need for legal recognition of the virtual asset industry before legitimate taxation of the industry’s income, and therefore supports the current decision to postpone taxation on virtual assets. (Korea Economic Daily)