PANews reported on November 8 that, according to the Korea Economic Daily, in light of the recent agreement reached by various political parties in South Korea to cancel the planned financial investment income tax, the cryptocurrency capital gains tax originally scheduled for implementation in 2025 is now more likely to be postponed until 2027. A Democratic Party official stated that it is now deemed necessary to delay the cryptocurrency capital gains tax to maintain fairness.
The South Korean government proposed a tax law amendment in July that includes the postponement of the cryptocurrency capital gains tax, but due to the Democratic Party's opposition to other tax reduction policies of the government, there has been uncertainty regarding the passage of the amendment. Democratic Party member Min Byoung-dug emphasized that before legally taxing the income from the virtual asset industry, legal recognition of the industry needs to be established, and therefore he supports the current decision to postpone taxation on virtual assets.
