A growing movement against South Koreas planned cryptocurrency tax is gaining momentum after a public petition calling for its abolition surpassed 50,000 signatures. The petition, submitted on May 13, officially crossed the review threshold on May 21 and currently holds more than 53,000 signatures, pushing it to the National Assemblys Finance and Economic Planning Committee for consideration. South Korea is scheduled to introduce a 20% tax on crypto profits beginning January 1, 2027, with local surtaxes increasing the effective rate to 22%. The tax will apply to annual gains exceeding 2.5… Read more
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