Park Soo-young, a lawmaker from South Korea's People Power Party, has criticized the government's plan to tax virtual asset gains, calling it a threat of "a tax bomb if you don't invest in the domestic stock market" and demanding its immediate withdrawal. In a YouTube video, Park said the punitive tax plan puts 13 million digital asset users at risk and would not encourage domestic stock investment but rather accelerate capital outflow. He cited data showing about 124 trillion won flowed into overseas digital asset exchanges from January to September last year.
According to ChainCatcher, citing Digital Asset, Park Soo-young, a lawmaker from South Korea's People Power Party, has criticized the government's plan to tax gains from virtual assets, calling it a threat of "a tax bomb if you don't invest in the domestic stock market" and demanding its immediate withdrawal.
In a video on his YouTube channel, Park said: "I hope this punitive tax plan, which puts 13 million digital asset users at risk, will be withdrawn immediately." He added that it does not mean people will invest in domestic stocks; rather, it would only accelerate the outflow of national wealth. He cited data showing that around 124 trillion won flowed into overseas digital asset exchanges between January and September last year.
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