Petition to Postpone South Korea's Virtual Asset Tax Reaches 50,000-Signature Threshold, Will Be Submitted to Standing Committee

TechFlow reports, September 14 — According to Digitalasset, data from the South Korean National Assembly's e-petition platform shows that a petition to delay virtual asset taxation by two years has received 50,764 signatures, meeting the threshold for referral to the relevant standing committee. The petition argues that imposing taxes on digital assets could lead to a decline in exchange revenues and subsequently impact corporate tax income, recommending a two-year postponement.

Previously, a petition demanding the abolition of digital asset taxation was similarly referred to the standing committee after exceeding the 50,000-signature threshold. The South Korean government currently maintains that the tax should be implemented normally starting in January 2027, while the People Power Party opposes the measure, citing factors such as inadequate infrastructure.