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      Petition to Delay Virtual Asset Tax in South Korea Gains Momentum

      A petition in the South Korean National Assembly seeking a two-year postponement of the taxation on virtual assets has garnered over 32,000 signatures. The petition requires a total of 50,000 signatures to be formally submitted for review by the relevant standing committee. If an additional 18,000 signatures are collected by September 20, the petition will move forward in the legislative process.

      Proponents of the petition argue that the taxation of digital assets could lead to a significant decline in exchange revenues, which may subsequently reduce corporate tax revenue. The South Korean government plans to implement the taxation starting in January 2027, despite opposition from the People Power Party, which cites concerns over inadequate infrastructure to support such a tax.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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