Korean Media: After South Korea's plan to abolish the financial investment tax, the possibility of delaying cryptocurrency taxation for two years has increased

According to a report by The Korea Economic Daily, in light of recent agreements reached among South Korean political parties to cancel the planned tax on financial investment income, the cryptocurrency capital gains tax originally scheduled for implementation in 2025 is now more likely to be postponed until 2027. An official from the Democratic Party of Korea stated that it is now considered necessary to delay the cryptocurrency capital gains tax in order to maintain fairness.

The South Korean government proposed a tax law amendment in July that included delaying the cryptocurrency capital gains tax, but due to opposition from the Democratic Party towards other government's tax reduction policies, there has been uncertainty about whether this amendment will pass. Min Byoung-dug, a member of the Democratic Party emphasized that before taxing revenues from virtual asset industry legally, it needs legal recognition first; therefore he supports current decision of postponing taxation on virtual assets.