South Korean opposition lawmaker Song Eon-seok calls for the abolition of a cryptocurrency income tax plan.

South Korean opposition lawmaker Song Eon-seok is advocating for the abolition of the cryptocurrency income tax plan, rather than delaying its implementation for two years. Song argues that taxing gains from crypto assets while exempting domestic stock gains, coupled with the difficulty in identifying overseas transaction data and the original prices of crypto holdings, will create confusion and burden investors. South Korea was originally scheduled to impose a 22% tax on cryptocurrency gains starting January 1, 2027. The government and ruling party announced earlier this month that they plan to postpone the tax until 2029, marking the fourth time South Korea has delayed its cryptocurrency tax plan. (Source: The Block)