Korea's ruling party floor leader calls for postponement of planned crypto tax until 2027

Choo Kyung-ho, the floor leader of South Korea's ruling People Power Party, has called for the postponement of planned cryptocurrency taxation until January 2027, according to Money Today. Speaking at a party leadership meeting on Nov. 18, Choo advocated for the development of a tax system that investors find acceptable. His remarks come after the government's July announcement that it would delay the implementation of taxes on virtual asset income by two years as part of a tax reform plan. He also stressed the importance of swiftly abolishing the capital gains tax on financial investments to alleviate market uncertainty and rebuild investor confidence. Choo reminded that both ruling and opposition parties had committed to eliminating this tax.