South Korea's ruling party leader: Crypto tax system is not ready yet, supports postponing taxation for young investors

Han Dong-hoon, leader of South Korea’s ruling People’s Power Party, said at a parliamentary meeting on November 25: “Politicians are debating whether to tax virtual assets, and a decision needs to be made as soon as possible.” He also said that it must be seen as a tool for (young people) to form new assets and new hopes: “As far as virtual assets are concerned, young people’s investment accounts for a very high proportion, and we cannot do anything to undermine the ladder of hope for young people.” He emphasized the need for fair taxation and taking into account the interests of young people as the main reason for his support for postponing the planned cryptocurrency tax, noting that the current tax system is not yet equipped to handle these taxes. (Naver)