According to Yonhap News, the Democratic Party of Korea will discuss with the ruling party the issue of "postponing the taxation of virtual assets for two years". Its position is that even if the tax exemption for virtual assets (cryptocurrency) is increased, taxation will be implemented from next year. Due to the opposing positions and the fact that it is a budget-related bill, the plan is to reach an agreement as much as possible and deal with it at the plenary meeting next month.
The secretaries of the ruling and opposition parties in the National Assembly Planning and Finance Committee plan to discuss the remaining controversial issues such as the virtual asset tax-related bill today. A person related to the Democratic Party's Strategic Finance Committee explained: "If an agreement is reached, the bill will be handled as planned. If no agreement is reached, it will be handed over to the leaders of the House."
Techub News previously reported that the South Korean government and the ruling party are pushing forward the amendment of the Income Tax Law to postpone the taxation of virtual assets, which was originally scheduled to be implemented in January next year, for at least two years and implement it in 2027. However, due to opposition from the opposition party, it is still unknown whether it can be passed at the plenary session of the National Assembly.