Coin World News reports that on December 2, according to the North Korean Business Weekly, the left-wing Democratic Party of South Korea, which holds a majority in the legislative body, has agreed to the proposal for a two-year extension put forward by the government and ruling People Power Party. If approved, this will be South Korea's third delay in imposing a 20% tax (plus a local tax of 22%) on cryptocurrency earnings exceeding 2.5 million won (1,784 USD). The proposed extension will be voted on in a plenary session of the National Assembly on Monday. The Democratic Party had previously pushed for this tax plan to take effect on the scheduled date of January 1, 2025, but with the tax-free threshold raised to 50 million won (35,714 USD), rather than the current 2.5 million won.