Kim Nam-guk, a member of the Democratic Party of Korea who was embroiled in a controversy over holding large amounts of coins, repeatedly offered an explanation, saying, "There is nothing wrong with it."

Congressman Kim claimed on social media today (7th), "All virtual currency transactions were made using only accounts with verified real names, and all investments made by transferring stock sales proceeds can be transparently confirmed through transaction details."

He also emphasized that his inclusion in the list of proposed virtual asset tax suspension bills in July 2021 "does not constitute a conflict of interest."

He explained, "Article 7, paragraph 5, paragraph 3 of the Conflict of Interest Prevention Act stipulates that the process of enactment, amendment, and repeal of laws targeting an unspecified number of people in relation to their duties shall not be subject to private stakeholder notification and evasion application."

"It was a piece of legislation that both the opposition and the opposition pushed to meet the people's request," he said, adding, "Representative Kim Ki-hyun, who was the leader of the National Assembly of People's Power at the time, strongly advocated the need to suspend the taxation of virtual assets in his speech to the negotiating group. The MDP also emphasized the need for a policy of deferral rather than rushing to taxation, and I decided to support Assemblyman Roh Ung-rae, who was the chairman of the MDC, in the representative proposal to amend the Income Tax Law."

(Photo = Yonhap News)