A petition opposing South Korea’s planned 22% tax on crypto investment gains has officially crossed the 50,000 signature threshold required for parliamentary review. The proposed tax is scheduled to take effect in January 2027, but many investors argue that it would place major financial and reporting burdens on everyday crypto users, especially younger generations already struggling with rising living costs and housing prices.

Critics also believe the policy could weaken South Korea’s position as one of Asia’s most important crypto markets. The petition warns that aggressive taxation may push capital, innovation, and talent overseas while discouraging participation in the domestic crypto industry. For many supporters, the issue is no longer just about taxes, but about whether South Korea wants to remain competitive in the rapidly growing global digital asset economy.