DPK Joins Opposition in Push for Crypto Tax Delay

The Democratic Party of Korea (DPK) has joined opposition lawmakers and industry groups in calling for a delay on cryptocurrency taxation. The tax is scheduled to take effect on January 1, 2027, but concerns over the readiness of the tax system have grown as the deadline approaches.

Rep. 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. He pointed to difficulties in tracking income from overseas exchanges and the lack of a system for carrying forward investment losses.

The DPK's calls for delay come as Finance Minister Lee Hyoung-il backed the planned rollout. Lee argued that 85 percent of investors hold virtual assets worth less than 5 million won ($3,670), and most will either fall below the tax threshold or face only a small tax burden.