Cho Kuk slams Democratic Party as 'party of postponed reform' over crypto tax delay

When the Democratic Party formally proposed to the government on the 4th that taxation of income from virtual assets (digital assets such as cryptocurrency) be postponed yet again, backlash followed from within the progressive opposition, with Cho Kuk, head of the Rebuilding Korea Party's Innovation Policy Research Institute, criticizing the Democratic Party as a 'party of postponed reform'.

Writing on Facebook on the 4th, Cho Kuk said: "The Democratic Party postpones crypto taxation for the fourth time — and it also postponed the impeachment of Chief Justice Cho Hee-de, not to mention the parliamentary inquiry." He added: "Is it trying to become the 'party of postponed reform'?" By labeling the decision announced by the Democratic Party that day as the fourth postponement, he lumped it together with past instances of delaying impeachment and a parliamentary investigation in a sweeping criticism.

Opinions within the Democratic Party were divided. Some argued that the tax should be implemented immediately on the grounds that further delay would undermine policy credibility, while others called for one more postponement, citing inadequate tax infrastructure. Democratic Party lawmakers on the National Assembly's Strategy and Finance Committee agreed the previous day to convey to the party leadership their position that a virtual asset tax delay is necessary, citing a two-year postponement period.