South Korea is now reconsidering banning its planned 22% crypto tax after the country’s main opposition party officially introduced a bill to completely remove digital asset taxation before it takes effect in 2027.

Under the plan, crypto investors would pay a 20% capital gains tax plus an additional 2% local tax on annual crypto profits above 2.5 million won, or roughly $1,650. Now this seems to be coming to an end before it is even implemented.

Petition Pushes Crypto Tax Back Into Parliament

The biggest change in the proposal is the complete removal of all digital asset taxation rules currently included under South Korea’s Income Tax Act. The proposal was introduced by Song Eon-seok of the People Power Party (PPP), which submitted an…