🔔South Korea's ruling party plans to abolish virtual asset tax, to hold closed-door discussions with five major cryptocurrency exchanges According to Mars Finance, citing News1, South Korea's ruling People Power Party will hold a closed-door meeting at Coinone headquarters with representatives from five major cryptocurrency exchanges—Upbit, Bithumb, Coinone, Korbit, and Gopax—as well as DAXA. The meeting aims to discuss abolition plans for the virtual asset tax system, originally scheduled for implementation in January 2027, and to hear suggestions regarding stablecoin issuance and the second phase of legislation. Previously, on March 19, the party's whip, Song Eon-seok, proposed a partial amendment to the Income Tax Law to abolish the virtual asset income tax, arguing that continuing to tax virtual assets raises issues of fairness and double taxation given the abolition of the financial investment income tax, and that the tax system should maintain consistency.