South Koreans demanding the abolition of the 22% crypto tax have gathered enough signatures (50,000) to force the National Assembly to reconsider the matter.

South Korean citizens have successfully gathered over 50,000 signatures on a national petition calling for the complete abolition of the 22% capital gains tax on cryptocurrency.

Under Korean law, once a petition reaches 50,000 signatures, the National Assembly is required to officially review and respond to the request. The petition argues that the current tax rate is excessively high, discourages investment, and pushes Korean traders toward overseas exchanges, resulting in capital outflow.

This movement reflects growing public frustration with the government’s strict crypto tax policy at a time when neighboring countries are adopting more crypto-friendly regulations. If successful, it could mark a major turning point for South Korea’s position in the global crypto market.

Source:

Petition platform of the National Assembly of Korea

https://petitions.assembly.go.kr/proceed/onGoingAll/4F91926BDD6A0BB4E064B49691C6967B