South Korean Petition to Delay Crypto Tax Gains 50,000 Signatures

A petition in South Korea calling for a two-year delay on virtual asset taxation has surpassed the 50,000-signature threshold, requiring it to be submitted to the National Assembly's standing committee for review. Proponents argue that taxing digital assets could reduce exchange revenue and corporate tax income. While the government aims to implement the tax starting January 2027, the People Power Party has expressed opposition, citing inadequate infrastructure.