More than 52,000 South Koreans have signed a petition demanding the abolition of the country's planned crypto tax, enough to force the National Assembly to formally review the issue. The core complaint: retail crypto investors face a 20% tax on gains above 2.5 million won (about $1,800), while stock traders only pay on profits exceeding 50 million won-a roughly 20 times larger exemption.
The petition, powered largely by younger voters frustrated with economic disparities, now triggers mandatory parliamentary committee review, turning grassroots anger into a legislative event. The government insists it will proceed with the January 2026 implementation, but the disparity between crypto and stock taxation has become a flashpoint for broader generational fairness concerns.
Analysts warn the tax could push trading activity offshore, repeating capital flight issues South Korea has seen before. Whether the review leads to policy change or simply performative debate remains the open question.