Petition to scrap South Korea’s crypto tax reaches 50K threshold
Critics say the new 22% crypto tax, set to take effect in 2027, unfairly favors other asset classes with a much lower tax burden.
A petition to scrap a 22% tax on crypto investment gains in South Korea reached the 50,000-signature threshold required for the country’s Finance and Economic Planning Committee to review objections to the new tax regime.
The 22% tax, set to take effect in January 2027, imposes financial and reporting “burdens” on investors, while also limiting upward mobility for younger individuals, who are locked out of housing markets due to skyrocketing real estate prices, according to the petition.
The petition now has more than 52,000 signatures. Source: South Korea Assembly