South Korean opposition lawmaker Song Eon-seok calls for scrapping the crypto asset income tax plan

Odaily: South Korean opposition lawmaker Song Eon-seok has argued for abolishing the crypto asset income tax plan rather than delaying it for another two years. He stated that taxing crypto asset gains while exempting domestic stock gains, along with the difficulty of identifying overseas transaction data and the original acquisition prices of crypto holdings, would cause confusion and increase the burden on investors. South Korea was originally scheduled to impose a 22% tax on crypto asset gains starting January 1, 2027. The government and the ruling party announced earlier this month that they plan to postpone the taxation to 2029, which would be South Korea's fourth delay of the plan.