BlockBeats news, on December 2, according to (North Korea Business Weekly), the ruling left-wing Democratic Party of South Korea, which holds a majority in the legislature, has stated that it agrees to the two-year postponement proposal put forward by the government and the ruling People's Power Party.
If approved, this will be South Korea's third postponement of the 20% tax on cryptocurrency gains exceeding 2.5 million won ($1,784) (plus local tax of 22%). The proposed delay will be voted on in a plenary session of the National Assembly on Monday.
The Democratic Party previously pushed for the 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), instead of the current 2.5 million won.