Petition to abolish South Korean crypto tax nears 40,000 signatures

A petition on South Korea's National Assembly e-petition system calling for the abolition of virtual asset taxation is approaching 40,000 signatures. The petition currently has 39,956 signatures, reaching 80% of the 50,000 required for it to be referred to a parliamentary committee. Posted on May 13, the petition is open for signatures until June 12. The petitioner argued that the current tax system needs a fundamental review rather than simple adjustments or delays, stressing that premature taxation without proper institutional foundations, investor protection, and international fairness would only burden the public and hinder the industry.