South Korea petition to delay crypto tax by 2 years tops 5,000 signatures

A public petition on South Korea’s National Assembly platform calling for a two-year delay to crypto taxation has drawn more than 5,000 signatures. The petition, titled a petition on a two-year delay to crypto taxation, was registered on Aug. 17 and argued crypto taxation would reduce taxes that can actually be collected rather than raise revenue. It also pointed to a sharp drop in corporate tax paid by exchanges including Dunamu. The petition added that most investors are in the red, and pushing ahead with taxation while domestic crypto-related companies are struggling would lead to a loss of support among younger voters and deprive them of opportunities. The signature period began on Aug. 21 and runs through Sept. 20.