Petition to repeal South Korean crypto tax surpasses 10,000 signatures

A petition calling for the repeal of South Korea's virtual asset tax, posted to the National Assembly's electronic petition system on May 13, has garnered over 10,000 signatures. The petition currently has 11,850 signatures, which is 24% of the 50,000 needed for it to be referred to a parliamentary committee. The signing period is open until June 12. The petitioner argued that the current tax system requires a fundamental review, not just minor adjustments or a delay. The petitioner stressed that imposing taxes prematurely—without a sufficient institutional framework, investor protections, international equity, or consideration of market realities—would likely only burden the public and shrink the industry.