Korea's Ruling Party Aims to Delay, Repeal Crypto Tax Amid System Readiness Concerns

The People Power Party in South Korea is pushing to delay and eventually repeal virtual-asset taxation, citing concerns over investor confusion and market contraction.

Kweon Seong-dong, floor leader of the party, argued that pressing ahead with the tax under the current timetable would cause problems because the related systems remain inadequate.

The meeting was held about three months before virtual-asset taxation is due to take effect in January 2027. Attendees included industry participants such as Dunamu CEO Oh Kyung-seok and Bithumb CEO Lee Jae-won.