THE BLOCK: South Korean lawmaker Song Eon-seok of the opposition party argued that the country should abolish its crypto income tax plan rather than delaying it for two years. Song said taxing crypto gains while exempting domestic stock gains —combined with the difficulty of identifying foreign transaction data and the original price of crypto holdings — would create chaos and place a burden on investors. South Korea was set to impose a 22% tax on crypto gains starting Jan. 1, 2027. However, the government and the ruling party announced earlier this month that they plan to delay the tax until 2029. This would mark the fourth time the country postponed the crypto tax plan.