A petition to repeal South Korea's planned 22% crypto tax has reached the National Assembly after surpassing 50,000 signatures. The tax, set to take effect on January 1, 2027, targets annual crypto gains above 2.5 million won (approximately $1,650 to $1,800). The petition argues that the tax unfairly burdens crypto investors compared to other asset classes. The petition's success follows legislative efforts by lawmaker Song Eon-seok to amend the Income Tax Act and remove digital asset taxation provisions. The debate highlights concerns over investor protection and the adequacy of current exchange systems. As the government prepares for the tax's implementation, the National Assembly must now review the repeal request, amid growing pressure from retail investors and market participants.