The negotiation of the Basic Law for Digital Assets in South Korea is coming to an end, and the cryptocurrency tax plan is facing controversy The Chairman of the Financial Services Commission of South Korea, Lee Yi won, stated at a parliamentary hearing that the government negotiations on the Basic Law of Digital Assets are in the final stage, and the government will push for the enactment of the bill. This bill covers the licensing system for cryptocurrency exchanges, stablecoin issuance rules, and legal definitions. The cryptocurrency tax plan originally scheduled to be implemented in South Korea on January 1, 2027 is facing controversy, with two petitions calling for the abolition or postponement of the tax reaching a threshold of 50000 signatures. The leader of the Democratic Party, Kim Min sik, stated that he is currently reviewing various opinions and has proposed the need for a comprehensive review of the tax plan. The South Korean National Tax Agency plans to complete the draft of the digital asset tax notice before October 30th. (Source: The Block)