Odaily Planet Daily News: With the passage of the impeachment bill against the South Korean president, expectations are rising regarding the re-discussion of laws and policies related to the virtual asset industry. The state of emergency incident and the subsequent impeachment situation ultimately led to a delay in discussions about policies related to virtual assets. The virtual asset tax, first mentioned in 2020, was originally scheduled to be implemented in January next year, but due to criticism over the lack of enforcement infrastructure, it has been decided to postpone its implementation by two years. However, even with a two-year postponement, there are many other issues that need to be discussed, such as detailed tax standards for various methods of acquiring virtual assets, including staking, airdrops, and mining. In addition to taxation, various policy and legal discussions are needed around NFT transactions, the approval of cryptocurrency spot ETFs, and whether to allow corporate accounts. However, after the state of emergency incident, Congress entered an impeachment state, and all related discussions came to a standstill. The virtual asset industry hopes for political stability to be ensured quickly after the impeachment vote, and for discussions on virtual asset-related bills to commence as soon as possible. An official from the Korea Digital Asset Association (KDA) stated, "We must formulate a virtual asset law as soon as possible in order to start legislation and implementation from investor protection-related laws." The industry anticipates that political stability will be a factor in restoring and enhancing future investor confidence. One industry official remarked, "Political stability will enhance trust in the financial system and the virtual asset market, thereby improving the investment environment," adding that this will restore global investors' trust in South Korean virtual asset exchanges and will also have a positive impact on attracting capital and strengthening partnerships.

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