South Korea’s ruling People Power Party has moved to introduce another bill to delay taxation on virtual-asset, or cryptocurrency, investment gains.

Edaily reported on August 13 that People Power Party lawmaker Kim Sang-hoon plans to sponsor an amendment to the income tax law as early as this month. The bill would delay the start of taxation on crypto investment income from January 2027 to January 2029. The proposal is under review by the National Assembly Secretariat’s legislative office, the report said.

It would be the second crypto-tax delay bill proposed by the party. On August 10, People Power Party lawmaker Jung Sung-kook sponsored a separate amendment that would postpone the tax’s start date from January 2027 to January 2030.

The government, however, has maintained that it will proceed with crypto taxation as scheduled in January 2027. Deputy Prime Minister Koo Yun-cheol, who also serves as finance minister, told the National Assembly’s Planning and Finance Committee in a work report last month that the government would push ahead as planned next year. Any necessary changes could be made after the system is put in place, he added.

The National Tax Service has also recently set up a digital asset division in preparation for the launch of crypto taxation next year. It plans to issue guidelines related to crypto taxation as early as October this year.

Opposition over tax fairness is also growing. Critics say pressing ahead with crypto taxation after the abolition of the financial investment income tax on stock investment gains would undermine tax equity. A recent public petition calling for the repeal of crypto taxation has drawn support from more than 58,000 people and has been referred to the National Assembly.