Moon Jin-seok Emphasizes the Need for Discussion on Cryptocurrency Taxation System

Moon Jin-seok, a member of the Democratic Party, stated regarding cryptocurrency taxation that it is time to discuss the system "within the larger picture of market activation." At the National Assembly forum on "Reviewing the Digital Asset Taxation System for 2027" on the 3rd, he emphasized, "We need to discuss the taxation system within the larger picture of normalizing and activating the digital asset market." He explained, "Major countries, including the United States, are accelerating market activation, and our taxation system should not remain merely a means of securing tax revenue." He also added, "It is time to strike a balance between promotion and regulation to ensure the fairness of taxation while preventing South Korea's digital asset industry from losing its global competitiveness." Moon also mentioned the lack of infrastructure, stating, "Although cryptocurrency taxation has been postponed several times, there are evaluations that significant improvements have not been made in the areas of infrastructure or practical taxation systems pointed out in the field." He added that there is still a sharp division of opinions surrounding the necessity and caution of taxation, as well as the timing and details of implementation.

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