Korea’s Democrats Back a Crypto Tax Delay, Promise a Firm End Date They Haven’t Named

Party leader Kim Min-seok wants the Digital Asset Basic Act passed before crypto gains are taxed and pledged a firm end date for the deferral this time, without naming one. The crypto income tax South Korea is due to start collecting on Jan. 1, 2027 should be put off, the ruling Democratic Party formally told the government, though it has yet to say for how long. “The Democratic Party formally proposes to the government a deferral of taxation on virtual asset income,” the Democratic Party chief Kim Min-seok told the party’s Supreme Council in the National Assembly on Nov.