Kim Min-seok, leader of South Korea's ruling Democratic Party, has formally proposed to the government that the country delay its planned crypto income tax. The tax was originally set to take effect on January 1, 2027.
Speaking at a party meeting, Kim argued that South Korea should first establish a Digital Asset Basic Act to create a comprehensive crypto regulatory framework, allowing businesses and investors time to adapt before taxation on crypto gains is implemented.
South Korea's Ruling Party Chief Proposes Delaying Crypto Income Tax
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