South Korea's Democratic Party has recently changed its stance on the implementation of a tax on crypto gains, agreeing to a further two-year postponement.
During a press conference held on December 1, party leader Park Chan-dae announced that they have agreed to a two-year postponement of the digital asset gains tax initially proposed by both the government and the ruling People's Power Party (PPP).
The law to tax crypto gains was due to come into force in January, but this recent decision will delay its implementation until 2027.
The government initially proposed a two-year grace period for the tax, while the PPP suggested a three-year grace period.
However, on July 12, the PPP officially proposed a delay until 2028, citing concerns that a quick implementation of the tax could drive investors away from the market.
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