Bloomberg Tax
May 24, 2021, 2:38 PM

South Korea Crypto Tax Petitioners Demand Regulator Resign

Soo Bin Park
Soo Bin Park
Freelance Correspondent

A petition calling for South Korea’s financial services regulator to step down over plans to tax gains in Bitcoin and other crypto currencies collected more than 200,000 signatures on Monday, reaching the threshold that requires a government response.

The petition, posted on the presidential Blue House website, is directed at Eun Sung-soo, the Financial Services Commission Chairman. Eun said in April that the government has no obligation to protect cryptocurrency investors just because so many people are making such investments.

  • “Investors don’t have any basis to require protection, so you want to pull out of protecting us, but you want ...