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Crypto Regulation

Korea Democrats Back Crypto Tax Delay, Vow Firm End Date Unnamed

South Korea’s Democratic Party leader Kim Min-seok has backed delaying the tax on cryptocurrency gains and pledged to set a firm end date for the deferral this time, without specifying one. He said the Digital Asset Basic Act should be passed before crypto gains are taxed. The party’s position leaves the tax timeline open pending the legislation.

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AI take

The significance here is sequencing rather than the delay itself: the party is tying taxation to a framework law that does not yet exist, which effectively makes the tax timeline a function of legislative progress rather than a fixed calendar. That matters for Korean exchanges and holders who have now seen deferral promised again, and it shifts the burden onto the Digital Asset Basic Act's passage. The open question is whether the pledged firm end date materializes as a date, or remains contingent on legislation — the same ambiguity that has kept the timeline unsettled.

Generated by AI for reference only.

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