According to a report by Edaily, South Korea's national petition to cancel the taxation of virtual assets is expected to be submitted soon to the National Assembly's Strategy and Finance Committee for discussion. The petition ultimately garnered 58,571 signatures, surpassing the 50,000 threshold. Under South Korea's National Assembly Act, such petitions must be reviewed at the first committee meeting held after 30 days of being transferred to the committee. South Korea's current plan is to impose a 22% tax rate on virtual asset income exceeding 2.5 million KRW (approximately $1,800) starting January 1 next year. The report states that while the government and ruling party still lean toward implementing the tax as scheduled, calls for cancellation or reconsideration are gaining momentum. https://(wublock123.com)/news/south-korea-58k-petition-remove-crypto-tax-parliament-review-63177