A National Assembly public petition seeking a two-year delay to South Korea’s crypto taxation has gathered nearly 24,000 signatures, reaching 48% of the 50,000 required for automatic referral to a relevant standing committee. The filing argues that a 20% tax on annual crypto gains above 2.5 million won, or about $1,880, could reduce overall tax revenue, burden retail investors and drive trading toward offshore platforms. It cites losses among many individual investors and weaker corporate tax payments by major exchanges including Dunamu, the operator of Upbit. The petition was filed on Aug. 17, while the National Assembly website lists Aug. 21 as its registration date; signatures can be submitted through Sept. 20. Existing records place implementation in 2027, with first filing and payment due in May 2028, while the new material describes the tax as scheduled for 2025, preserving a timeline discrepancy. South Korea previously moved the planned start from January 2022 to 2023 and then 2025. A government rationale for taxation is fairness and a broader tax base, while critics warn that the framework could push activity to unregulated offshore platforms.