South Korean Parliament to Discuss Petition Calling for the Abolition of Cryptocurrency Taxation

The Standing Committee of the South Korean National Assembly is expected to discuss a public petition calling for the abolition of cryptocurrency taxation, local media reported on the 21st. The government had previously announced on May 7 that it would proceed with a 22% tax on cryptocurrency trading profits starting January 1, 2027. In response, a petition to repeal the tax was initiated and surpassed the necessary 50,000 signatures for parliamentary review in just eight days. According to South Korean parliamentary law, public petitions are assigned to a committee...