South Korea’s Democratic Party and the government are set to hold a policy consultation on Oct. 28 to discuss whether to delay taxation on virtual assets, or cryptocurrencies, scheduled to take effect in January 2027.

Digital Asset reported on Oct. 27 that Jeon Eun-soo, floor spokesperson for the Democratic Party, told reporters after a general meeting of lawmakers that some party members had called for postponing the crypto tax. No decision was made on Oct. 27, he said.

Democratic Party lawmaker Ahn Do-geol also proposed first enacting the Basic Digital Asset Act and then implementing crypto taxation alongside it. The party plans to gather additional opinions before deciding as soon as possible whether to defer the tax.

Hwang Jong-seop, an aide in Democratic Party lawmaker Kim Han-kyu’s office, said he had heard the party-government meeting would be held on Oct. 28. He said the issue of delaying digital-asset taxation was also expected to be on the agenda.

The meeting is expected to include Democratic Party lawmakers serving on the National Assembly’s Strategy and Finance Committee and officials from the Ministry of Economy and Finance.