South Korean lawmaker says crypto gains should be taxed, with social consensus needed

South Korean Democratic Party lawmaker Kang Jun-hyun said gains from virtual assets should be taxed under the principle that income, whether from stocks or cryptocurrencies, should be subject to taxation, according to an interview with Maeil Business Newspaper. Kang added that, because tax reform is a sensitive issue, sufficient social consensus and advance communication are needed, taking into account concerns that the market could contract. Kang has been deeply involved in discussions on enacting a basic law on digital assets while serving as the ruling party’s secretary on the National Policy Committee in the National Assembly and as a member of the Democratic Party’s digital asset task force.