The South Korean People Power Party has proposed canceling the 22% cryptocurrency capital gains tax scheduled to take effect in 2027, arguing that the current tax system is immature and could create unfairness, particularly affecting young investors. The party is concerned that strict taxation will lead to capital outflows, with $110 billion already having left the market, impacting market activity. The bill is still under review, and its passage remains uncertain. If passed, it could boost market confidence and attract more investors.

South Korea's People Power Party held a closed-door meeting with major cryptocurrency exchange representatives on March 23 to discuss abolishing the virtual asset taxation system scheduled for implementation in 2027, and to hear proposals on stablecoin issuance and legislation. Floor leader Song Eon-suk has already proposed amendments to the Income Tax Act to address the double taxation issue.

Gate News Report: On March 22, Brazil's Finance Minister revealed that the country will postpone decisions on cryptocurrency tax policies until after the presidential election scheduled for October this year. Brazil will hold its presidential election in October 2026, and the government has decided to make final decisions on cryptocurrency tax policies after the election concludes.

Ripple and its co-founder Chris Larsen each donated $5 million to Golden State Promise to oppose California's 2026 billionaire tax bill, which requires billionaires to pay a one-time wealth tax and has prompted multiple billionaires to leave California.

Korea's National Tax Service plans to appoint professional custody companies to manage seized virtual assets before mid-year to enhance security and address the February security breach incident. The NTS has established a task force to oversee the transition, improve management procedures, and plans to establish a digital asset management department.

On March 19, Paraguay's National Anti-Drug Secretariat held a seminar with the American Bar Association to discuss technical capabilities for combating crimes using cryptocurrencies such as Bitcoin, analyze digital trends in transnational criminal networks, and disclose cases of Uruguayan drug traffickers conducting cryptocurrency transactions. Paraguay's Tax Authority has required cryptocurrency trading platforms to report transaction information.

Korean opposition parties propose canceling the digital asset tax plan scheduled for implementation in 2027, planning to amend the Income Tax Law to completely exempt cryptocurrency gains from taxation. This tax system was originally scheduled for implementation in 2022, but has been repeatedly delayed due to industry opposition.

The Federal Court for the Northern District of California rejected user Roger Metz's application to withdraw an Internal Revenue Service (IRS) subpoena on the grounds that proper notice was not given to the Attorney General. The subpoena required the CEX to provide its 2022 tax records. The court stated that the dismissal does not affect the substantive rights of the entity, and Metz may resubmit the application at a later date.

Poland's President signs new law incorporating EU DAC8 directive into domestic legislation, requiring cryptocurrency investors to declare their earnings. Those who fail to declare face tax rates as high as 75%. Currently, only about 1% of investors pay taxes as required by law, with an estimated 3 million people holding cryptocurrency in Poland.

Bitcoin mining company HIVE is gradually reducing its Swedish mining operations due to tax disputes and operational uncertainty. Meanwhile, through BUZZ company, it is expanding its liquid-cooled AI data center capacity in Canada fourfold. Despite receiving legal support, Swedish authorities are still requiring it to pay disputed tax security deposits.