Over 50,000 South Koreans Sign Petition to Block 2027 Crypto Tax

A public petition calling for the abolition of South Korea's upcoming 22% cryptocurrency tax has reached 53,359 signatures, surpassing the threshold required for review by the National Assembly’s Finance and Economic Planning Committee. The tax, scheduled for January 1, 2027, would apply to gains exceeding 2.5 million won.

Petitioners argue that the tax is unfair, particularly in light of the government's decision to abolish the Financial Investment Income Tax on stock gains. They contend that the levy creates economic inequality, disproportionately burdens young investors who view crypto as a critical wealth-building tool, and lacks necessary infrastructure for investor protection. Despite political efforts to scrap the tax, such as a bill introduced by People Power Party floor leader Song Eon-seok, the Ministry of Economy and Finance maintains that implementation will proceed as planned.

(Source：BeInCrypto)