South Korean political parties failed to reach an agreement on whether to postpone the taxation of virtual assets, and the plenary meeting originally scheduled for today was canceled

The taxation subcommittee of the South Korean National Assembly's Strategy and Finance Committee failed to reach a consensus on whether to postpone the taxation of virtual assets the day before, and the plenary meeting of the Strategy and Finance Committee originally scheduled for the 26th was also canceled due to the postponement of the discussion. The key reason was that the political parties had different opinions on the issue of virtual asset taxation. The main opposition Democratic Party is in favor of implementing the planned crypto tax as scheduled, while the ruling party supports postponing it for two years, arguing that the tax infrastructure is still insufficient and that young people should be given the opportunity to accumulate assets. A person related to the Strategy and Finance Committee said, "The Democratic Party insisted on immediate taxation, and the People's Power Party insisted on postponing it for two years, but it was shelved due to failure to reach an agreement and decided to discuss it later." In addition, other unresolved issues such as inheritance tax are also one of the reasons for the cancellation of the meeting. (Yonhap News Agency)