South Korea's Democratic Party Agrees to Postpone Crypto Tax for 2 Years
Park Chan-dae, leader of the Korea Democratic Party (KDP), announced his agreement to postpone the implementation of cryptocurrency tax for 2 years.
This decision is a response to the proposal of the government and the People Power Party (PPP) which plans to implement a profit tax from digital assets of 2.5 million won or around Rp28.5 million in 2025.
In fact, the PPP has proposed again to increase the threshold to 50 million won or around Rp571 million. This step aims to ensure that only large investors are affected by the tax.
Unlike the PPP, the KDP under the leadership of Park Chan-dae seeks to create a more conducive environment for the growth of the crypto sector and protect investors.