As the implementation of virtual asset taxation is scheduled to begin in January next year, the opposition party's continued resistance is increasing policy uncertainty, ZDNet reported. While the government has clearly stated its intention to implement the taxation as planned, the opposition party is pushing for legislation to abolish the tax. Given the strong opposition from the People Power Party, there is a possibility that virtual asset taxation may be postponed yet again. The People Power Party argues that taxing only virtual assets while the financial investment income tax (금투세) has been abolished is unfair. Rep. Park Soo-young of the People Power Party, who attended the debate, stated, “I will synthesize the opinions from academia and the media presented today and reflect them in the legislative process as the chairman of the tax subcommittee,” creating a confrontational stance with the government. In this situation, the ruling party's failure to present a clear position also fuels market uncertainty. Some suggest that ahead of next year's local elections, the ruling party may consider the youth vote and potentially participate in discussions about postponing or abolishing the tax.
