#openledger $OPEN 💥💥 Petition in South Korea regarding the tax on cryptocurrencies in the country.
🔥The said petition was filed on the national assembly’s petition website in May 2026.
It stated that the tax on virtual assets was unfair and it must either be repealed or completely revised.
🔥Some important aspects related to the petition are:🔥🔥
🔥The government in South Korea plans to levy tax on cryptocurrency earnings from January 2027 onwards. According to the proposal, the tax will be 22% of the virtual asset income in excess of 2.5 million won (US$1,800).
🔥According to the supporters of the petition, cryptocurrency owners are getting less favorable treatment than stock owners since:
losses cannot be carried forward,
the exemption level is not high enough,
and investors’ protections are not adequate
⭐Petition supporters are further cautioning that this tax may result in traders going overseas as well as adversely affect the local cryptocurrency market.
⭐As per reports, more than 40,000 signatures have been garnered by the petition in a matter of days.
🔥 Under the parliament rules of South Korea, all petitions that gather more than 50,000 signatures within 30.🔥🔥
$BTC $ETH #SouthKoreaCrypto #Postondefi #postontradifi #Southkoreacryptopetition