South Korean petition to delay virtual asset tax by two years passes parliamentary review threshold

A petition calling for a two-year delay to South Korea’s crypto tax has cleared the threshold for parliamentary review, according to the National Assembly’s online petition system. The petition had collected 50,764 signatures, enough to be forwarded to the relevant standing committee for consideration. The development brings the tax debate back into the legislative process rather than leaving it as a policy dispute between political camps. The South Korean government is pushing to fully implement the tax starting in January 2027. The ruling People Power Party has taken the opposite position, arguing that the necessary infrastructure is still not ready. The petition’s progress highlights the split over timing, even as the government continues to back the current schedule. No additional details were provided in the brief update beyond the signature count, the review threshold and the competing positions from the government and the ruling party.