According to South Korea’s News1, with just over two months remaining before the tax on income from Bitcoin and other crypto assets was originally set to take effect in January 2027, the South Korean government may delay it again. Officials are concerned that imposing the tax despite a sluggish stock market and waning public support for the asset market could intensify a backlash from young investors, who make up the crypto market’s main demographic.

An official at the South Korean presidential office said the government was discussing a delay and would take into account “the voices of young people, including respect for their asset ladder.” Kim Min-seok, a representative of the ruling Democratic Party, said on the 22nd that a decision should be reached as soon as possible on whether to proceed with taxation as planned or improve the system. On the 16th, Democratic Party lawmaker Park Min-gyu submitted a bill proposing to postpone the tax’s introduction until 2029.