According to CoinMeta, South Korea's opposition party, the People's Power Party, has proposed to postpone the country's 22% cryptocurrency investment tax for three years until January 1, 2030. Previously, the government had confirmed that this tax would come into effect in 2027. Member of the People's Power Party, Chung Seong-guk, plans to submit a amendment to push back the implementation date from January 1, 2027, to January 1, 2030. He stated that the additional three years will provide lawmakers and authorities with time to review the virtual asset tax system and related regulations. This proposal offers the opposition party another way to challenge the tax. Under the current income tax law, income generated from the transfer or lending of cryptocurrencies (including Bitcoin and Ethereum) will be classified as other income starting from January 1, 2027, and annual earnings exceeding 2.5 million Korean won will face a comprehensive tax rate of 22%. Chung's amendment will retain the tax provisions but delay their effective date, giving lawmakers an extra three years to reconsider how to handle cryptocurrency investment income.