'Coin controversy' Kim Nam-guk, "opposition to the Democratic Party's taxation of virtual assets..."Helping the Midway Expansion"

Former lawmaker Kim Nam-guk of the Democratic Party of Korea, who was controversial for holding and trading large amounts of virtual assets, criticized the Democratic Party's move to implement virtual asset taxation as futile efforts to expand its support base.

Former lawmaker Kim said on his SNS that the Democratic Party, which insisted on protecting young people, small investors, and revitalizing the capital market by abolishing the financial investment income tax, is taking the opposite position on the taxation of virtual assets.

He then stressed that the party should move away from activist thinking and install a market-friendly attitude, with 7.78 million domestic virtual asset investors, many of whom are small investors.

The Democratic Party is discussing a revision of the tax law to raise the tax deduction limit for virtual assets to 50 million won, which was a pledge in the last general election.