With a 20-day deliberation period, processing the Digital Asset Basic Act within

South Korea's ruling Democratic Party on Wednesday formally proposed to the government a delay of cryptocurrency income taxation, arguing the Digital Asset Basic Law must first establish a regulatory framework and give firms and investors time to adapt. The government's bill has not yet been submitted to the National Assembly, while the party aims to pass it by December, leaving a tight year-end window. A two-year additional deferral is reportedly the leading option within the party, though the length remains undecided. Current law taxes income from crypto transfers and lending starting January 1, 2027. The outcome matters because the tax timeline and the basic law's passage are now linked, with the government bill's submission and the December assembly schedule the next milestones to watch.