[South Korea's Virtual Asset Taxation Delay Petition Reaches 50,800 Signatures, To Be Submitted to Standing Committee]
According to electronic petition information from the South Korean National Assembly, a petition to delay the taxation of virtual assets by two years has garnered 50,764 signatures, meeting the threshold for submission to the relevant standing committee for review. The petition argues that implementing digital asset taxation would lead to a decline in exchange revenues and impact corporate tax income, suggesting a two-year postponement. Previously, a petition calling for the abolition of digital asset taxation was also submitted to the standing committee after surpassing 50,000 signatures. The South Korean government currently advocates for taxation to begin on January 1, 2027, while the People Power Party opposes the plan, citing insufficient infrastructure.
