Ruling party joins growing calls to delay crypto taxation

The useful part

The ruling Democratic Party of Korea (DPK) joined opposition lawmakers and industry groups Monday in calling for a delay on cryptocurrency taxation, adding momentum to growing demand to postpone the planned January rollout. 1, 2027, but concerns over the readiness of the tax system have grown as the deadline approaches. Min Byung-duk, a senior member of the DPK's policy committee, said that taxation should be pushed back until after the passage of the Digital Asset Basic Act.

How it works

• "It's not right to start taxation when the basic law has yet to be established.
• We need a solid foundation to collect taxes in a credible way, and that foundation is not yet in place," the lawmaker said at EastPoint:
• He said his concerns were about the timing readiness of the tax system, rather than taxation itself.

Details worth keeping

Seoul 2026, a private conference on virtual assets held Monday in Seoul. The DPK's calls for delay come as the governme