Legislators in South Korea have initiated efforts to eliminate a proposed 22% crypto gains tax ahead of its 2027 enforcement deadline. Members of the People Power Party filed formal legislation on March 19, 2026, seeking complete deletion of associated legal provisions. The proposal focuses on eliminating Income Tax Act sections that would impose levies on yearly digital asset profits surpassing 2.5 million won. Legislative Amendment Challenges 22% Crypto Taxation Structure: Rep. Song Eon-seok, serving as floor leader for the People Power Party, filed the amendment seeking elimination of every provision connected to ... (full story)