On October 25, the South Korean presidential office decided to postpone the cryptocurrency income tax policy that was scheduled to take effect in January next year. An official from the presidential office stated on the 25th, "The discussions are leaning towards delaying the implementation of the cryptocurrency tax." The South Korean government had established a tax on virtual asset gains as early as 2020 when it revised the Income Tax Act, but the policy has been delayed three times. Initially set to take effect on January 1, the presidential office has now decided to postpone it again, citing incomplete tax administration preparations and public opinion among the youth. According to the revised Income Tax Act, annual gains from the transfer or lending of virtual assets are subject to a combined tax rate of 22% (including other income taxes and local income taxes) after a basic tax exemption of 2.5 million won.