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South Korea Petition to Abolish Crypto Asset Taxation Surpasses 10,000 Supporters Overnight

GateNews

Regulation & Policy

2026-05-14 05:51:43

ON-10.08%

MAY-2.02%

IN2.77%

BE1.93%

According to the National Assembly website, on May 14, a petition demanding the abolition of cryptocurrency asset taxation exceeded 10,000 supporters in just 24 hours. The petition, which runs from May 13 to June 12, requires 50,000 total supporters to be referred to a standing committee. The petitioner cited concerns including equity issues with stock market taxation, prolonged market downturn, challenges for younger investors’ asset formation, and potential adverse effects on market stability.

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