South Korea's Crypto Tax Repeal Petition Reaches 58,571 Signatures, Set for Parliament Review

According to Edaily, South Korea's petition to repeal cryptocurrency taxes garnered 58,571 signatures on June 21, and will be submitted for parliamentary committee review following the mandatory 30-day waiting period.

Under current tax law, starting January 1, 2027, virtual asset transfer and lending income will be classified as miscellaneous income and subject to income tax. Gains exceeding 2.5 million Korean won (approximately $1,800) will face a combined 22% tax rate, comprising 20% miscellaneous income tax and 2% local income tax.