The South Korean opposition party's new proposal aims to completely abolish the cryptocurrency tax plan originally scheduled to be implemented in 2027

According to CoinDesk, South Korea's opposition party has proposed a bill to completely abolish the cryptocurrency income tax system that was scheduled to be implemented. The bill states that the current plan is to impose a 22% tax rate on cryptocurrency investment gains, while stock investment gains are not subject to income tax, which is deemed unfair to cryptocurrency investors. If the bill passes, South Korea's planned cryptocurrency tax collection scheme will be canceled.