South Korea · Crypto Briefing
South Korea reviews crypto tax plan after petition hits 50,000 signatures
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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.
Key facts
- The petition crossed the 50,000-signature mark on May 21, 2026, roughly eight days after it was launched
- The proposed levy is a 22% tax on cryptocurrency gains, broken down into 20% national income tax and 2% local tax
- For traditional financial assets like stocks, the exemption sits at around 50 million won, roughly 20 times higher than the proposed crypto threshold
- If the 22% tax takes effect as planned in January 2027, it could push some traders to reduce their exposure or seek workarounds
Summary
More than 52,000 South Korean citizens have signed a petition demanding the government scrap its planned cryptocurrency tax, clearing the threshold that forces the country’s parliament to formally review the issue. The petition crossed the 50,000-signature mark on May 21, 2026, roughly eight days after it was launched. The proposed levy is a 22% tax on cryptocurrency gains, broken down into 20% national income tax and 2% local tax. That exemption threshold is where the anger starts.