South Korean tax panel to review bills on delaying digital asset taxation

A tax subcommittee of the South Korean National Assembly’s Planning and Finance Committee is set to review bills related to virtual asset, or digital asset, taxation, Digital Asset reported. The subcommittee plans to take up seven digital asset taxation bills for review at 5:00 a.m. UTC today. The ruling Democratic Party has asked the government to delay digital asset taxation, and the government decided on Nov. 5 to pursue a two-year delay and allow losses to be carried forward for three years.