South Korea finance chief expresses regret over renewed crypto tax delay

South Korea’s Deputy Prime Minister and Finance Minister Lee Hyoung-il expressed regret over the renewed delay to virtual asset taxation, saying he felt a heavy sense of responsibility over granting another two-year postponement after three previous deferrals, according to Money Today. Lee made the remarks during a full session of the National Assembly’s finance and economy committee in Seoul on Nov. 11 in response to a question from People Power Party lawmaker Bae Jun-young. Bae said the issue would be handled by a subcommittee, but argued the deputy prime minister should at least formally express regret over why the virtual asset tax had been delayed and left adrift, causing confusion among the public. Democratic Party lawmaker Cho Seung-rae urged Lee to work to sufficiently address shortcomings during the grace period and said the standing committee should engage in intensive debate on any institutional issues that need to be supplemented so a more substantive bill can be produced.