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South KoreaOn the Asia Digital Asset Policy Center
Korea wants to be a digital asset hub, but good intentions are not a policy. Consistency is: tax, licensing and market access have to point the same way.
The Policy Center is our contribution to that consistency, a shared record of what each Asian market has actually decided, open to anyone who needs it.
About
Kim Nam-woong, who goes by Steve, studied economics at Penn State University with a minor in political philosophy. Before Four Pillars he co-founded a41, a Korean blockchain firm that began as an investor and expanded into validator operations.
He co-founded Four Pillars in 2023 and is its CEO. He led the firm's seed round from Kakao Ventures, Hashed and Base Investment and its 2026 Series A led by Pantera Capital, and is repositioning Four Pillars from a research house into a provider of validator infrastructure and advisory services for institutions. In September 2026 he signed a partnership with Abu Dhabi-based Further Asset Management on institutional digital-asset infrastructure.
On policy, he argues that Korea should defer the 22% tax on crypto gains due to start in January 2027 until ETFs, institutional custody and exchange diversification are in place. He warns that taxing crypto while listed shares remain untaxed would push investors into digital-asset treasury shares and invite further rules on validators and custodians. He has also argued that tokenised securities in Korea should be understood as moving mainstream financial assets on-chain, not only fractional investment.
Policy engagement
Argues Korea should defer the 22% crypto gains tax due in 2027 until ETFs, institutional custody and exchange diversification are in place, warning it would push investors into DAT shares and invite more regulation.
Key actions
Told the Digital Times that the crypto tax should be deferred or scrapped in line with the abolition of the financial investment income tax, warning of market distortion.
SourceArgued ahead of the Money Move 2026 forum that Korea should see tokenised securities as the on-chain conversion of shares and bonds, not just fractional investment.
SourceWrote an Edaily op-ed arguing that a government aiming to make Korea a digital-asset hub should not lead with taxation, and that policy consistency matters more than the tax itself.
SourceAnnounced Four Pillars' Series A led by Pantera Capital and a shift towards institutional staking infrastructure.
SourceSpoke at the News1 Blockchain Leaders Club, calling for a standing channel between financial regulators and the industry.
Source
Letters
- 2026.09.13Build the market's infrastructure first, then tax itTo Ministry of Economy and Finance; Financial Services Commission; National Assembly
- 2026.08.11A digital asset hub cannot start by taxing the industry it wants to growTo Office of the President; Ministry of Economy and Finance; Financial Services Commission
