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Kim Min-seok Says Crypto Tax Decision Will Depend on Market Conditions, Policy Readiness

Kim Min-seok Says Crypto Tax Decision Will Depend on Market Conditions, Policy Readiness

  • Kim Min-seok said a decision on whether to implement the virtual-asset tax system will be made after a comprehensive review of market conditions and institutional preparedness.
  • Kim Min-seok said the conclusion will take into account the Digital Asset Basic Act, inadequate tax infrastructure, fairness issues with overseas exchanges, and young people’s concerns about opportunities to build assets.
  • Cho Seung-rae and Deputy Prime Minister Lee Hyung-il said they will reexamine the tax system’s readiness and changes in the virtual-asset market since 2020 to come up with a reasonable plan.

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A Democratic Party of Korea policy consultation on virtual-asset taxation held at the National Assembly Members' Office Building on October 28. Photo: Jin Wook/Bloomingbit
A Democratic Party of Korea policy consultation on virtual-asset taxation held at…

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