Representative Min Byung-deok Hosts 'Seminar on the Use of Digital Assets by Public Interest Corporations'

# Seminar Highlights Potential Public Benefits of Digital Assets A seminar exploring the public utility of digital assets took place in the National Assembly, where experts exchanged a variety of opinions on the subject. The discussions focused on practical issues regarding the evaluation criteria and handling methods for digital asset donations. Organized by Representative Min Byung-deok's office and hosted by the International Digital Asset Committee (IDAC) and Digital Asset Donation Association (DADA), the "Public Foundation Digital Asset Utilization Seminar" was held on the 10th in the National Assembly Building in Yeouido, Seoul, according to an announcement from Min Byung-deok’s office on the 12th. # Growing Societal Expectations In his address, Representative Min Byung-deok underscored the rising societal expectations for digital assets and emphasized the need for legal and institutional frameworks to enable their public-oriented utilization. IDAC Chairman Eun-Seok Won stated during his presentation, "Non-profit organizations can be a testing ground for the application of regulations in the digital asset market and for ensuring service stability." He further highlighted the importance of building a cooperative ecosystem between digital asset service providers and non-profit organizations, which can attract new users and contribute to the proliferation of digital asset services. # Key Issues in Digital Asset Donations The seminar's discussions focused heavily on the challenges of using digital assets for donations. Key issues included criteria for issuing donation receipts, valuation standards for donated digital assets (book value vs. market value), the registration of dedicated donation accounts for wallets and linked accounts, and the timing and handling of asset liquidation. Jang Yoon-joo, Team Leader of the Research Projects at the Beautiful Foundation, introduced domestic and international cases to highlight practical issues. Jang pointed out, "Due to the high volatility of digital assets, the criteria for issuing donation receipts and the tax filing process are complicated." Tax accountant Ho-Sung Lee suggested that guidelines applied to other volatile assets like real estate or stocks could be adapted for digital assets. Attorney Ji-Eun Lee discussed the evolving regulatory landscape for digital asset utilization and proposed collaborating with digital asset service providers to lower participation barriers for public organizations. Soo-Min Lee, the ESG Team Leader at Dunamu, stated, "With corporate accounts now permitted, we plan to proceed with partnerships with non-profit groups." # Future Plans Representative Min revealed that the seminar provided insights into the field's concerns and challenges. He committed to striving for the integration of discussed legal and institutional improvements into policy and announced plans for a follow-up seminar in the latter half of the year to review the implementation status of these policies. Participants included Eun-Seok Won, Chairman of IDAC; Yoon-Joo Jang, Team Leader at the Beautiful Foundation; tax accountant Ho-Sung Lee of Ichon Tax Accounting; Attorney Ji-Eun Lee of Liberty Law Office; Soo-Jong Jung, Director of the Virtual Asset Division at the Financial Services Commission; Jin-Seok Cho, CEO of KODA; Soo-Min Lee, ESG Team Leader at Dunamu; and Kyung-Chul Kim, Team Leader of the Public and Small Business Support Division at the National Tax Service.