South Korea's right-wing political party has proposed delaying the taxation of cryptocurrency gains by three years. If passed, the country’s crypto gains taxation will be pushed back from the beginning of 2025 to 2028.

“As at the moment, the investor sentiment for crypto is negative, most investors are expected to leave the market if the country imposes an income tax on an asset that has higher risks than stocks,” the bill’s description on the South Korean National Assembly’s website said. The bill was proposed last Friday.

A 20% taxation on crypto gains was initially scheduled to take effect on Jan. 1, 2022, but has been pushed back twice so far to Jan. 1, 2025, due to heavy backlash from investors and industry experts. 

South Korea’s right-wing People Power Party, in which …