[Blockchain Today Correspondent Han Ji-hye] Democratic Party presidential candidate Lee Jae-myung expressed his opinion that the development of K-Coin should be promoted with a one-year deferral of virtual asset taxation.
At the ‘Youth Talking About Virtual Assets’ meeting held at the National Assembly on the 11th, Candidate Lee said, “It is correct to delay the taxation of income from virtual assets by about one year to coincide with the timing of tax on capital gains on stocks.”
He also pointed out, “There is a need to seriously discuss the issue of the timing of taxation of virtual assets and the issue of the tax rate. In particular, there is an aspect of the tax system that is disadvantageous in the tax system because it is considered to be an abnormality that deviates from the norm and is doing something that should not be done.” .
In this regard, he also mentioned the disappointment that young people would feel. Candidate Lee said, “I think that young people in the field may be disappointed and angry beyond resentment because of the tendency to tax rather than protective measures in a situation where they are not ready for the gains on the transfer of virtual asset investment after the recent exchange regulation. It costs,” he explained. This is in line with the industry’s opinion that an investor protection system should be established first before taxation occurs.
He added, “We must not deny the virtual asset market,” he suggested.
K-Coin is a term that refers to cryptocurrency issued in Korea. With the recent implementation of the amendment to the Special Provisions Act, domestic cryptocurrencies are facing the prejudice that they can be delisted more easily than overseas cryptocurrencies along with government regulations.
Among them, Candidate Lee’s ‘K-Coin’ remarks pointed out some views of the domestic virtual asset market as a ‘negative market to be regulated,’ and at the same time supported the need to create a foundation for Korean companies to solidify their position in the global market. It is analyzed that it contains
On the other hand, on the same day, candidate Lee also made a pledge to delay the taxation of virtual assets by one year through his blog.
In the announcement, Candidate Lee said, “The National Assembly decided to introduce a taxation system on virtual asset income last year and also decided to apply it to income generated from January 1, 2022. However, the important thing is not ‘taxation decision’ but ‘preparation’ ‘. The concerns of the field and experts should not be overlooked,” he emphasized.
He continued, “The basis of taxation is trust. We need to create a tax payment system that the taxpayer people can trust. Taxation that is rushed without preparation is difficult to justify, and it will lead to tax resistance and confusion in the field.” The priority is to discuss and enact legislation. It is not too late to do taxation then.”
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