South Korea’s Crypto Tax Delay Petition Surpasses 5,000 Signatures on National Assembly Platform

BitcoinWorld

South Korea’s Crypto Tax Delay Petition Surpasses 5,000 Signatures on National Assembly Platform

A public petition on South Korea’s National Assembly platform calling for a two-year delay to cryptocurrency taxation has gathered more than 5,000 supporters since its registration on Aug. 17. The petition argues that taxing crypto now would reduce, rather than increase, actual tax revenue, citing a sharp drop in corporate tax payments from major exchanges such as Dunamu.

Petition’s Core Arguments

The petition emphasizes that most domestic crypto investors are currently sitting on unrealized losses, and that imposing taxes under such conditions would not only fail to generate meaningful revenue but also burden retail investors. It also points to the financial struggles of domestic crypto-related companies, noting that forcing taxation ahead could alienate younger voters and limit their economic opportunities.

The signature period officially began on Aug. 21 and will remain open until Sept. 20. Under the National Assembly’s rules, any petition that receives more than 5,000 signatures is referred to the relevant standing committee for review. The threshold was reached within days, indicating significant public interest.