{
  "id": 18057641,
  "title": "Ruling party proposes gov't delay planned taxation of cryptocurrency",
  "url": "https://urgent.news/2026/11/04/ruling-party-proposes-govt-delay-planned-taxation-of-cryptocurrency",
  "topic": "world",
  "section": "World",
  "published": "2026-11-04T02:57:02.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times-koreatimes",
    "url": "https://www.koreatimes.co.kr/southkorea/politics/20261104/ruling-party-proposes-govt-delay-planned-taxation-of-cryptocurrency"
  },
  "original_language": "en",
  "account": "The ruling Democratic Party of Korea (DPK) has proposed that the government delay the introduction of a new cryptocurrency taxation scheme, set to commence next year. This proposal was made during a meeting of the party's supreme council, which considered the need to allow businesses and investors sufficient time to adapt to the new taxation rules. DPK leader Kim Min-seok stated that the council agreed it would be more prudent to first enact the Digital Asset Basic Act, establish a comprehensive framework, and review taxation principles, current industry conditions, and fairness among users. Korea initially introduced a cryptocurrency taxation scheme in 2020, but its implementation has been postponed multiple times, with the tax set to take effect on January 1st. If the proposal is accepted, it would represent the fourth delay of the tax scheme. Under the current legislation, annual cryptocurrency gains exceeding 2.5 million won ($1,880) would be taxed at 22 percent, including local income tax.",
  "summary": "The ruling Democratic Party of Korea (DPK) on Wednesday formally proposed that the government postpone the implementation of taxation on cryptocurrencies, set to take effect next year. The party's supreme council decided to make such a proposal in a meeting, considering the need to give businesses and investors time to adjust to the new taxation scheme, according to DPK leader Kim Min-seok. \"We…",
  "key_points": [
    "DPK proposes delaying cryptocurrency tax introduction.",
    "Meeting of supreme council considers adaptation time.",
    "Tax scheme set for January 1st, 2024."
  ],
  "editors_take": "Prioritizing legislative frameworks over immediate revenue collection signals a shift toward ensuring market stability and investor readiness before imposing new financial burdens on the digital asset industry.",
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Yonhap News",
        "title": "Ruling party proposes gov't delay planned taxation of cryptocurrency",
        "url": "https://urgent.news/2026/11/04/ruling-party-proposes-govt-delay-planned-taxation-of-cryptocurrency-18060634",
        "published": "2026-11-04T02:14:54.000Z"
      },
      {
        "outlet": "KBS World Radio",
        "title": "Democratic Party Leader Proposes Delay in Virtual Asset Taxation",
        "url": "https://urgent.news/2026/11/04/democratic-party-leader-proposes-delay-in-virtual-asset-taxation",
        "published": "2026-11-04T05:26:05.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}