South Korea's opposition parties have proposed a new motion to completely abolish the crypto tax plan, originally scheduled to be implemented in 2027.

CoinFeed reported on March 19th that, according to CoinDesk, South Korea's opposition party has proposed a bill to completely abolish the cryptocurrency income tax system originally scheduled to be implemented in 2027. The bill states that the current plan is to levy a 22% tax rate on cryptocurrency investment gains, while exempting stock investment gains from income tax; this arrangement has been criticized as unfair to cryptocurrency investors. If the bill passes, South Korea's planned cryptocurrency tax will be cancelled.