South Korea's Crypto Tax Proposal Surpasses 50,000 Signatures
- Petition Review Initiated: A proposal to abolish South Korea's crypto tax has surpassed 50,000 signatures in just eight days, prompting the Finance and Economic Planning Committee to formally review the petition, reflecting public dissatisfaction and expectations for policy change.
- Tax Rate Controversy: The planned 22% tax on crypto investment gains has sparked controversy, with supporters arguing that it unfairly targets crypto investors while stock investors are only taxed on profits exceeding 50 million won, highlighting concerns over the competitiveness of the crypto market.
- Market Decline Pressure: South Korea's crypto market activity has declined significantly, with the total value of crypto assets held dropping from 121.8 trillion won in January 2025 to 60.6 trillion won in February 2026, and daily trading volumes falling from $11.6 billion to $3 billion, intensifying the pressure for policy adjustments.
- Regulatory Measures Heighten Concerns: The Financial Services Commission's proposal to automatically flag crypto transactions over 10 million won as suspicious raises concerns among critics, who fear that these measures, combined with the proposed tax, could drive capital and talent to more favorable jurisdictions, impacting the growth of South Korea's crypto market.
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Technical Analysis for CC
Technical Sentiment Analysis for Canton Network (CC). As of , Canton Network (CC) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 3 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for CC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, CC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Canton Network (CC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.121 | 0.132 | 0.144 | 0.156 | 0.168 | 0.18 | 0.192 |
| Fibonacci | 0.132 | 0.141 | 0.147 | 0.156 | 0.165 | 0.171 | 0.18 |
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