South Korea's ruling party Finance and Economy Committee plans to recommend delaying virtual asset taxation by approximately two years

on November 3, according to Yonhap News Agency, Democratic Party lawmakers on the National Assembly's Financial and Economic Committee decided to recommend to the party leadership that the implementation of virtual asset taxation, originally scheduled for next year, be postponed. Oh Ki-hyeong, a ruling party official on the committee, stated after a consultation between the ruling and opposition parties that a majority of members lean toward postponing the measure by approximately two years.

Key considerations include: the international exchange of tax information is not expected to be fully implemented until 2029; the Digital Assets Basic Act, which may be enacted as early as the first half of next year, could reshape the tax framework; and the systems required for collecting taxes based on transaction data still require review. The party leadership will further consolidate opinions and deliberate at the party policy committee level. During the parliamentary agenda phase for next week or the week following, discussions will focus on incorporating the relevant provisions into policy.