A National Assembly standing committee is expected to review the petition after it cleared the 50,000-signature threshold, as South Korea plans a 22% tax on crypto trading gains from January 1, 2027.
A South Korean public petition seeking to abolish the virtual asset tax has gathered 58,571 signatures, surpassing the 50,000-signature threshold for parliamentary review in eight days. A National Assembly standing committee is now expected to take up the petition, local media reported on the 21st. The challenge comes after the government said on May 7 that it would impose a 22% tax on cryptocurrency trading gains from January 1, 2027. The petition underscores continued political and retail investor sensitivity over how South Korea plans to tax crypto-related profits.