South Korea’s ruling People Power Party is pushing for another two-year delay of taxation on cryptocurrency investment gains, potentially promising this as part of its campaign for the upcoming general election in April, according to a local media report. 

The right-wing party said it will prioritize establishing a basic regulatory framework for crypto before taxation, and plans to propose a new set of regulations on the crypto industry in the upcoming term, local news outlet Herald Business Daily reported Monday.

The country’s crypto gains tax is currently scheduled to go into effect in January 2025, after being pushed back from the initial starting date of Jan. 1, 2023. Another potential delay would postpone the tax plan to start in 2027.

As part of its election campaign, the …