The ruling party in South Korea is considering further postponing the collection of cryptocurrency taxes until 2027

According to The Block, the ruling party in South Korea, the People Power Party, is considering once again postponing the collection of taxes on cryptocurrency investment profits for another two years in the upcoming election campaign. The party stated that they will prioritize establishing a basic regulatory framework for cryptocurrencies rather than taxing investors and plan to propose a series of new regulations for the crypto industry in the next term.

It is reported that the original schedule for collecting cryptocurrency income tax in South Korea was set to begin on January 1, 2023, but it has already been postponed to take effect from January 1, 2025. Another extension will further delay the start of tax collection until 2027.