South Korea's ruling party leader has proposed delaying crypto income tax to the government

Nov 4: According to The Block citing News1, Kim Min-seok, leader of South Korea's ruling Democratic Party, said he has formally proposed to the government a delay of the crypto income tax. The tax law was originally scheduled to take effect on January 1, 2027. Kim said at a party meeting that South Korea should first establish the "Basic Act on Digital Assets" crypto legal framework, let companies and investors adapt, and only then tax crypto gains.