South Korea’s Main Opposition Agrees to Postpone Crypto Tax

South Korea’s main opposition party agreed Sunday to postpone a capital gains tax on cryptocurrency traders for two years, offering a boost to a nascent market led by retail investors.

The Democratic Party, which controls the National Assembly, concluded there hasn’t been enough preparation by the authorities for the tax to be implemented from next year, floor leader Park Chan-dae said at a televised press briefing. The government had earlier proposed the 20% duty be put off by another two years as part a broader revision of the tax code.

The opposition party, led by former presidential contender Lee ...