Korean lawmaker Min Byoung-duck: crypto tax is premature, basic law needed first
- —Min said Korea has no basic crypto law yet, making early taxation inappropriate
- —He proposed allowing loss carry-forward of at least five years against future gains
- —He backed won-denominated stablecoins to cut cross-border payment costs
- —He criticized the '51% rule' giving banks control over stablecoin issuers
Why it matters: The ruling-party stance shapes the timeline for Korea's crypto tax and its rules for won stablecoins.
Source: Bloomingbit