South Korea’s newly-elected president Yoon Seok-yeol announced Tuesday he would push to defer taxation on crypto investment gains at least until a new set of regulations called the Digital Asset Basic Act is enacted.

South Korea’s crypto tax was initially set to come into effect for the 2022 fiscal year, but was Moved back to 2023 last December. E-daily reports that Yoon will make sure the crypto tax law doesn’t come into force until there is a sensible legislation in place to protect consumers. This could be as early as 2024.