The main opposition Democratic Party (DP) has agreed to postpone the implementation of taxation on crypto assets for two years.

DP floor leader Park Chan-dae told reporters on Sunday at the National Assembly that the party decided now is the time to produce a more refined system for the taxation on crypto assets after in-depth discussions on the matter.

Starting next year, the nation was set to implement crypto taxation, but the policy has already been postponed twice following the bipartisan agreement.

The government and the ruling party have called for delaying the implementation of the taxation for another two years.

Park also stated that the government has presented 13 bills relating to the budget proposal, and the party intends to pass eight of them during a plenary parliamentary session on Monday, as there are no disagreements between the parties on eight of the proposed bills.

The floor leader added that the party will hold discussions on Sunday to decide how to handle the remaining five bills.