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Finance minister nominee backs January crypto tax rollout despite industry, opposition pushback

Finance minister nominee backs January crypto tax rollout despite industry, opposition pushback

Lee Hyoung-il, nominee to head the Ministry of Finance and Economy, answers questions from reporters, Sept. 3, as he arrives at an office set up at the Korea Deposit Insurance Corp. in central Seoul to prepare for his confirmation hearing. Yonhap

Lee Hyoung-il, nominee to head the Ministry of Finance and Economy, answers questions from reporters, Sept. 3, as he arrives at an office set up at the Korea Deposit Insurance Corp. in central Seoul to prepare for his confirmation hearing. Yonhap

The nominee to head the Ministry of Finance and Economy expressed his intention on Sunday to implement the cryptocurrency tax next January as scheduled, despite pushback from both industry players and opposition lawmakers.

In written materials submitted to the National Assembly ahead of a confirmation hearing slated for Tuesday, Lee Hyoung-il, who currently serves as first vice finance minister, noted that specific tax rules would be finalized through a National Tax Service public notice by…

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