The main opposition Democratic Party of Korea has agreed to delay taxes on profits from cryptocurrency trades, floor leader Rep. Park Chan-dae said Sunday.

“We have decided to agree to a two-year moratorium on the implementation of the cryptocurrency taxation proposed by the government and ruling party,” Park said in a press conference.

The law taxing cryptocurrency income is set to come into effect from January.

The government earlier proposed postponing the law by two years, and the ruling People Power Party by three years.

Before its U-turn on Sunday, the Democratic Party had opposed both the government’s and ruling party’s proposals, instead suggesting an increase in what can be considered as tax-deductibles.

The Democratic Party proposed deductions in taxes for cryptocurrency-related profits of up to 50 million won ($35,800), as opposed to the previous threshold of 2.5 million won, as an alternative to a total delay in the law’s implementation.

Park said, however, his party would vote against the government’s inheritance and gift tax bills that “benefit the super wealthy.”

The government and the ruling party want to lower the inheritance tax rate from the current 50 percent to 40 percent for the top bracket. Under the government’s plan, Children inheriting from their parents would also be eligible for a tenfold increase in the threshold for deduction.

Last month, the Democratic Party decided to back the government’s push to scrap a plan for introducing tax on financial investment income.

Backing down from his initial stance, Democratic Party leader Rep. Lee Jae-myung said he would support abolishing the tax plan to help boost the country’s sluggish stock market.

“I could not ignore the voices of 15 million financial stock investors who might be affected by structural vulnerability,” he said.