South Korean legislators are poised to delay taxation of digital assets by one year, which could prove to be an important win for the crypto industry.

Representatives from the Tax Subcommittee in the National Assembly, South Korea’s legislative body, reached a bipartisan We are in agreementOn Nov. 29, an amendment was approved that would postpone crypto tax for one year. If this amendment passes during a parliamentary session Dec. 2, then taxation will start on January 1, 2023 and not as planned in 2022.