A national petition in South Korea calling for the repeal of the crypto tax plan set to take effect in 2027 reached the 50,000-signature threshold as of Thursday local time and has been submitted to the Legislative Committee of the South Korean National Assembly for review. The plan proposes a 22% tax on crypto income exceeding 2.5 million won (approximately $1,650), which has already been delayed three times due to debates over fairness and lack of infrastructure. Petitioners argue that taxing crypto gains is unfair to investors, especially after South Korea abolished income taxes on traditional financial investments like stocks and bonds. They believe the current policy focuses excessively on regulation and taxation, neglecting innovation and competitiveness in the domestic crypto industry. (The Block) https://(wublock123.com)/news/south-korea-crypto-tax-repeal-petition-50k-parliament-review-61501