According to News1, Kim Min-seok, leader of South Korea's main opposition Democratic Party, announced at a Supreme Council meeting of the National Assembly on November 4 that the Democratic Party has formally proposed to the South Korean government to postpone the implementation of the virtual asset income tax. Kim stated that this decision was reached after in-depth discussions between political parties and industry symposiums, with the National Assembly's Finance and Economic Planning Committee at its core. Taking into account taxation principles, the domestic industrial ecosystem, and fairness to investors, the more reasonable approach is to first formulate a "Basic Law on Digital Assets" to establish a complete regulatory framework and provide businesses and investors with sufficient time to adapt. Kim also pointed out that given the previous multiple postponements of the tax, this proposal will specify a concrete grace period and, during this period, expedite the development of supporting infrastructure such as overseas transaction data sharing, fully computerized tax verification and reporting guidelines, and accelerate the improvement of relevant laws and tax systems. https://www.(wublock123.com)/news/south-korea-democratic-party-proposes-delay-crypto-income-tax-basic-digital-assets-law-71295