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Controversy is growing over
Democratic Rep. Kim Nam-kook's push for a bill that would delay taxing income earned with virtual currency. As it is known that Congressman Kim once had a virtual currency worth 60 billion won, the ruling party's offensive is intensifying that it is not a conflict of interest. Congressman Kim reiterated his position that there was no problematic action.

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Kim Nam-guk, a member of the Democratic Party who was known to have virtual currency worth 60 billion won at one time, posted a rebuttal post on consecutive days.

Congressman Kim, who said he would risk his political life and all his property on the 6th, claimed on social media yesterday that his inclusion in a bill to suspend the taxation of investment income from virtual currencies for one year in July 2021 does not constitute a conflict of interest.

He said that the enactment and amendment of laws aimed at an unspecified number of people is an exception to the Conflict of Interest Prevention Act, and stressed that the bill to suspend the taxation of virtual currencies was a piece of legislation that was promoted by all parties to meet the people's request.

The bill co-sponsored by Congressman Kim was replaced by a bill with similar contents and passed the plenary session of the National Assembly, and the taxation of virtual currencies, which was scheduled to take effect from 7, was suspended for one year.

In the meantime, Congressman Kim disposed of a large part of his 1 billion won virtual currency and invested it in virtual currency on other exchanges.

If the law had not been amended, Congressman Kim would have had to pay 2022% of his investment income over 1.60 million won in taxes.

The ruling party criticized Congressman Kim, saying it was a national show.

[Yoo Sang-beom/Chief Spokesperson of the People's Power: On the shamelessness of not even apologizing to the public for the conflict of interest issue of proposing a bill to suspend the taxation of coins while holding coins....]

They also pressed them to answer how much they actually sold virtual currencies worth up to 250 billion won.

Congressman Kim said he would release the settlement details soon.

(Video Interview: Seol Min-hwan, Video Editing: Park Ki-duk)