A petition for the abolition of South Korea’s planned 22% cryptocurrency tax has surpassed 50,000 signatures. 

It now heads to the National Assembly’s Finance and Economic Planning Committee for review. Lodged on May 13, the petition crossed the threshold on May 21. It now holds 53,359 signatures.

Crypto Tax Set to Take Effect in 2027

South Korea’s 20% crypto tax, which rises to 22% with local surcharges, takes effect January 1, 2027. The law applies to gains exceeding 2.5 million won.

The petitioner argues it’s unfair that South Korea abolished the Financial Investment Income Tax (which would have taxed stock gains) but is still moving forward with taxing crypto gains.

They claim this creates inequality among…