South Korea
Digital Asset
People Power Party's Park Soo-young: "If crypto taxation starts next year, one or two exchanges will go under"
- Rep. Park Soo-young (People Power Party) said on TV Chosun's YouTube channel 'Newstradamus' (Oct. 7) that taxing digital assets starting Jan. 1, 2027 could bankrupt one or two of the five major exchanges.
- He argued Korea would be undermining its own standing among leading digital asset markets like the US, Hong Kong, and Singapore.
- He also contended that digital asset taxation raises fairness concerns compared to how stock investment is taxed.