South Korea’s ruling party signals support for crypto tax plan next year

South Korea’s ruling Democratic Party has raised the need to tax virtual assets as scheduled next year, Edaily reported. Oh Gi-hyoung, the ruling party’s floor coordinator on the National Assembly Strategy and Finance Committee, said during a government audit of the finance ministry late today that there was a need for predictability and public trust in decisions and legislation made by the National Assembly on virtual asset taxation. Oh added it would be inappropriate to immediately reverse the plan to begin taxation next year.