South Korea's ruling party's Finance and Economy Committee to prop

South Korea's ruling Democratic Party's National Assembly finance committee on November 3 decided to recommend to party leadership a roughly two-year delay of the virtual asset taxation originally scheduled to take effect next year, according to Yonhap. Committee senior secretary Oh Ki-hyung said a majority of members favor the postponement, citing that international tax information exchange is not expected to fully launch until 2029, the Digital Asset Basic Act—due as early as the first half of next year—could reshape the tax framework, and systems needed to levy taxes using trading data still require verification. The move signals continued regulatory uncertainty for crypto investors and exchanges in one of Asia's largest digital asset markets. Party leadership will consolidate opinions and discuss the matter at the policy committee level, with the proposal to be incorporated into legislation potentially addressed in sessions next week or the week after.