Min Byung-duk Says Crypto Tax Should Follow Legal Framework at EastPoint: Seoul 2026

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"South Korea has yet to enact even a basic law on virtual assets, or cryptocurrencies. I don't think it is right to impose taxes before that framework is in place."

Min Byung-duk, a lawmaker with the Democratic Party of Korea, made the remarks on Sept. 28 at the Web3 private conference EastPoint: Seoul 2026 at the Grand InterContinental Seoul Parnas in Seoul's Gangnam district. He later took the stage for a panel discussion with Kang Byung-jin, head of legal at Hashed.

Min said implementing virtual-asset taxation early next year would be premature. The principle that income should be taxed is valid, he said, but authorities must be able to determine exactly how income was generated and how much was earned. Proper taxation also requires a clear grasp of both domestic and overseas transactions, he added, and overseas trades are not easy to track accurately.