South Korean lawmakers have reached an agreement to postpone the implementation of cryptocurrency taxation laws for two years. The Democratic Party in South Korea has decided to delay the taxation of crypto profits, providing a temporary respite in the ongoing debate over digital asset regulation in the country. This decision was announced by Democratic Party floor leader Rep. Park Chan-dae, who stated that the government and ruling party have agreed to a two-year moratorium on crypto taxation. Despite the high level of crypto adoption in South Korea, with nearly 10 million people engaging in trading or investment, the country has maintained a cautious approach towards the industry. The delay in implementing the tax aligns with a government proposal, although the ruling People Power Party had initially sought a three-year moratorium. This agreement signifies a shift in the Democratic Party's stance on crypto-related tax policies. Read more AI-generated news on: https://app.chaingpt.org/news