South Korea reviews crypto tax plan after petition hits 50,000 signatures
South Korea is reviewing its proposed 22% tax on cryptocurrency gains following a petition that garnered over 52,000 signatures. The petition's success mandates a formal review by parliament, highlighting public discontent with the tax's perceived unfairness. Critics argue that the tax disproportionately affects younger retail investors compared to traditional stock traders, who enjoy a much higher exemption threshold.
- ▪More than 52,000 South Korean citizens signed a petition against the planned cryptocurrency tax.
- ▪The proposed tax includes a 20% national income tax and a 2% local tax on profits exceeding 2.5 million Korean won.
- ▪The exemption threshold for crypto gains is significantly lower than that for traditional financial assets like stocks.
Opening excerpt (first ~120 words) tap to expand
South Korea reviews crypto tax plan after petition hits 50,000 signatures A groundswell of public opposition forces parliamentary review of the country's planned 22% tax on digital asset gains, adding fuel to an already heated legislative fight. Share Add us on Google by Editorial Team May. 22, 2026 (function () { var s = document.currentScript; var wrapper = s && s.closest ? s.closest('.cb-sevioads-inarticle') : null; var inMobile = wrapper && wrapper.closest('#mobile-articles'); var inDesktop = wrapper && wrapper.closest('#desktop-articles'); if (inMobile || inDesktop) { var isDesktopVp = window.matchMedia('(min-width: 768px)').matches; var matches = (inMobile && !isDesktopVp) || (inDesktop && isDesktopVp); if (!matches) { var sevioDiv = wrapper.querySelector('.sevioads'); if (sevioDiv)…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Crypto Briefing.
Discussion
0 commentsMore from Crypto Briefing
