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Crypto Fans Build Up Their Power as S Korean Politicians Delay Crypto Tax
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South Korean MPs have finally overturned the government on its proposed crypto tax plans, ending a long saga that pitted lawmakers against the large crypto-skeptic administration of President Moon Jae-in.
The National Assembly revealed on December 3 that it had approved a delay to the controversial tax in a vote held in the evening of December 2. MPs had taken the matter into their own hands, defying the government by backing a private member’s bill calling for an amendment to the tax law.
Sisa Journal noted that the bill has bumped the “effective date of taxation” by “one year from January 1, 2022, to January 1, 2023.” But “actual tax payments,” the media outlet remarked, will not “begin until May 2024.”Another, potentially more valuable
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