Odaily Planet Daily News - The leader of South Korea's largest opposition party, the Democratic Party of Korea, Park Chan-dae, announced the abandonment of the plan to implement cryptocurrency capital gains tax in 2025, agreeing to postpone it for another two years until 2027. The proposal to 'postpone the cryptocurrency capital gains tax' was put forward by the South Korean government and the ruling People Power Party, while the Democratic Party previously stated that the delay in taxation is a political trick of the ruling party. Initially, South Korea planned to impose a 20% tax on cryptocurrency gains (22% as local tax), which was set to take effect on January 1, 2022. Due to strong opposition from investors and the industry, the plan has been postponed twice to January 1, 2025. After today's press conference, the collection of this tax has been postponed again to 2027. The ruling People Power Party also proposed that 'a two-year grace period for the capital gains tax is still insufficient and should be extended to 2028 for collection, as rapid taxation on cryptocurrency is undesirable, and investors may leave the market as a result. The People Power Party hopes to delay the implementation time to 2028 to fulfill the commitments made during the election period.' (Cointelegraph)