South Korean media: The industry expects the government to re-discuss the virtual asset bill after the presidential impeachment bill is passed

16/12/2024 16:10

With the passage of the South Korean Presidential Impeachment Bill, expectations are rising for a re-discussion of laws and policies related to the virtual asset industry. The martial law incident and the subsequent impeachment situation ultimately led to the postponement of discussions on virtual asset-related policies. The virtual asset tax, first mentioned in 2020, was originally scheduled to be implemented in January next year, but it was decided to postpone its implementation for two years due to criticism of the lack of enforcement infrastructure. However, even with a two-year postponement, there are many other issues that need to be discussed, such as detailed tax standards for various ways of acquiring virtual assets such as staking, airdrops, and mining. In addition to taxation, various policy and legal discussions are required around NFT trading, approval of the launch of cryptocurrency spot ETFs, and whether corporate accounts should be allowed. However, after the martial law incident, the National Assembly entered an impeachment state, and all related discussions came to a standstill. The virtual asset industry hopes that political stability can be ensured as soon as possible after the impeachment vote, and discussions on virtual asset-related bills will be held as soon as possible. An official from the Korea Digital Asset Association (KDA) said, "We must formulate virtual asset laws as soon as possible so that we can legislate and implement laws related to investor protection first." The industry expects political stability to be a factor in restoring and enhancing investor confidence in the future. “Political stability will enhance trust in the financial system and virtual asset markets, thereby improving the investment environment,” an industry official said, adding that it will restore global investors’ trust in South Korean virtual asset exchanges and also have a positive impact on attracting capital and strengthening partnerships.

Bullish

Bearish

More news about imtoken

Sep 27
SunPump Partners With ImToken For Enhanced Wallet Integration
Bullish1
Bearish
Sep 27
SunPump and imToken establish ecological partnership
Bullish
Bearish
May 16
ImToken Wallet Integrates Metis, Expanding Its Network Support
Bullish
Bearish
May 16
imToken wallet has officially integrated Metis
Bullish
Bearish
Jan 09
imToken wallet asks Singapore authorities for blacklist removal
Bullish
Bearish
Jan 09
ImToken Added to Singapore Regulatory Authority Alert List
Bullish1
Bearish1
Dec 18
KeePass, Imtoken, Now Trader Joe Hit by Google Ad Phishing
Bullish
Bearish
Nov 21
Fake ImToken and BitpieWallet Apps Found on China's Apple App Store
Bullish
Bearish
Aug 28
HashKey Exchange reached strategic cooperation with imToken
Bullish
Bearish
Mar 11
imToken updated to version 2.11.3 and added support for WalletConnect 2.0
Bullish1
Bearish2

South Korean media: The industry expects the government to re-discuss the virtual asset bill after the presidential impeachment bill is passed

More news about imtoken

More news about imtoken

ImToken Will Appeal Placement in Singapore's Regulator's Investor Alert List

Singapore's MAS Adds imToken and BKEX to Investor Alert List

ProBit Global Exchange Adds Vector Space Biosciences’ SBIO Token

Ripple vs SEC: Legal Spat Draws Conclusion After 2 Years

Crypto Legal Expert Breaks Down Upcoming Ruling in XRP Lawsuit

Crypto Exchange Huobi Global Will Sell Its Entire Stake To About Capital

Huobi Global Cryptocurrency Exchange Review (2022)

LBank Exchange Will List Xion Global Token (XGT) on July 19, 2022

LBank Exchange Will List Global Trading Xenocurrency (GTX) on June 27, 2022

Jack Dorsey Announces Plans for Bitcoin Legal Defense Fund