Arthur Hayes: South Korea postpones virtual asset taxation for two years, bull market can continue

Arthur Hayes quoted Korean media as saying: "The bull market can continue, and South Korea's capital gains tax will be postponed for another 2 years." According to reports, Park Chan-dae, a representative of the Democratic Party of Korea, said today, "We have decided to agree to postpone the taxation of virtual assets for two years." Congressman Park held a press conference at the Yeouido National Assembly in Seoul that day and announced the news. He said: "After an in-depth discussion on the postponement of virtual asset taxation, I think it is time to further reform the virtual asset tax." Regarding the budget subsidiary bill designated by the Speaker of the National Assembly Woo Won-sik (sound), Congressman Park said: "The government has proposed 13 bills, of which 8 bills that have no problems between the ruling and opposition parties will be passed. He added: "Tomorrow's plenary session will be processed and five bills will be passed. We will further discuss and decide the direction of processing today." He emphasized, "Some bills need to be rejected, and I plan to reject the estate tax and gift tax bills."