Korean media: The industry expects that after the impeachment bill is passed, the government will reconsider the virtual asset bill.

Odaily Planet Daily News According to the impeachment of the South Korean president, there is a continuous expectation for the re-discussion of the relevant laws and policies in the virtual asset industry to rise. The martial law order and the subsequent impeachment situation eventually led to the postponement of the discussion on virtual asset-related policies. The virtual asset tax, first mentioned in 2020, was originally scheduled to be implemented in January next year, but due to criticism for lack of enforcement infrastructure, the decision was made to postpone implementation for two years. However, even with a two-year delay, there are many other issues that need to be discussed, such as stake, Airdrop, Mining, and various detailed tax standards for obtaining virtual assets. In addition to tax issues, there are various policy and legal discussions surrounding NFT transactions, approval of the launch of cryptocurrency spot ETFs, and whether to allow corporate accounts. However, after the martial law incident, Congress entered an impeachment state, and all related discussions came to a standstill. The virtual asset industry hopes to ensure political stability as soon as possible after the impeachment vote, and to discuss relevant virtual asset bills as soon as possible. An official from the Korea Digital Asset Association (KDA) said, “We must promptly establish virtual asset laws in order to legislate and implement laws related to investor protection first.” The industry expects that political stability will become a factor in restoring and strengthening investor confidence in the future. An industry official said, “Political stability will enhance trust in the financial system and the virtual asset market, thereby improving the investment environment,” adding that this will restore global investor confidence in Korean virtual asset exchanges and have a positive impact on attracting capital and strengthening partnerships.