Min Byoung-dug says taxing crypto now would damage South Korea’s market

Min Byoung-dug of the ruling Democratic Party argued that South Korea should delay planned cryptocurrency taxation set to take effect in 2027, saying imposing taxes now would kill the market, Digital Asset reported. Appearing on the SamproTV YouTube channel today, Min said the tax framework remains unprepared, including for securing overseas trading data and allowing loss carryforwards, and warned that moving ahead could shrink the domestic digital asset market. Min added that while domestic data can be obtained, overseas trading data cannot currently be secured, meaning investors trading in South Korea could end up paying taxes while those using overseas exchanges do not, which could push investors offshore.