PANews reported on December 2 that according to Cryptonews, the South Korean National Assembly has agreed to postpone the implementation of crypto tax until 2027. This is the third postponement of the tax since it was first proposed in 2020. The largest opposition party, the Democratic Party (DP), said it would vote in favor of the government's extension plan at the plenary session of the National Assembly on December 2.
DP had previously tried to push for an alternative bill, proposing to implement crypto taxes as originally planned in 2025, but raising the annual tax threshold to 50 million won (about $36,000) to achieve parity with the tax standards for stock transactions. However, the proposal was not supported by the ruling People's Power Party (PPP). DP leader Park Chan-dae said the decision to delay was "made after in-depth discussions" and believed that "more institutional preparations are needed" to ensure the perfection of the tax system.
