South Korea may delay crypto tax for Digital Asset Basic Act passage

South Korean Democratic Party leader Kim Min-seok has suggested that lawmakers prioritize the passage of the Digital Asset Basic Act before implementing a crypto tax. This proposal, if accepted, would mark the fourth time South Korea has delayed the introduction of its crypto income tax. The tax, initially scheduled to take effect in January 2027, applies a 22% rate on virtual-asset gains exceeding 2.5 million won. Market participants appear to view this development as potentially creating a more favorable regulatory environment for cryptocurrency, which may impact Bitcoin price predictions.