A petition to abolish cryptocurrency taxation in South Korea has garnered 50,000 signatures and has been included in the National Assembly's discussion agenda.

CoinFeed reported on May 24 that, according to the South Korean media outlet Seoul Economic Daily, a nationwide petition demanding the abolition of a cryptocurrency tax has been included in the National Assembly's agenda for discussion. The petition, titled "Petition to Abolish Virtual Asset Tax," posted on the National Assembly's electronic petition platform, garnered over 50,000 signatures in just eight days, meeting the criteria for submission to a standing committee for review. The petition will be transferred to the Finance and Economic Committee, which oversees the Ministry of Economy and the National Tax Service, for review, after which a decision will be made on whether to submit it to the plenary session. The petitioners argue that "since the financial investment income tax on stocks has been abolished and tax relief policies have been implemented, it is unreasonable to levy a separate tax only on virtual currencies," adding, "The current system needs a comprehensive review, not just a simple supplement."