South Korea · Democrats · Strategy · The Block
South Korea's ruling party leader has officially proposed that the government further delay the crypto tax
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Democratic Party leader Kim Min-seok said at a party supreme council meeting at the National Assembly that the decision followed consultations through the Strategy and Finance Committee, government-party talks, and meetings with crypto asset businesses, local news outlet News1 reported on Wednesday.
Key facts
- The tax plan, currently scheduled to take effect on Jan
- Last week, South Korea's presidential office was reportedly discussing postponement of the levy until 2029 to align with the U.S. timeline for joining the OECD's Crypto-Asset Reporting Framework
- Democratic Party leader Kim Min-seok said at a party supreme council meeting at the National Assembly that the decision followed consultations through the Strategy and Finance Committee
- South Korea's ruling party leader has officially proposed that the government further delay the crypto tax
Summary
South Korea's ruling party leader has officially proposed that the government further delay the crypto tax. Kim stated that party members agreed that the country should first enact the Digital Asset Basic Act, a comprehensive legal framework for crypto, and give companies and investors time to adapt to new rules. The tax plan, currently scheduled to take effect on Jan.