Coin Taxation Delay Petition Surpasses 50,000 Signatures, Referred to Standing Committee

A petition calling for a two-year postponement of virtual asset (digital asset) taxation has exceeded 50,000 signatures, leading to its referral to a standing committee. On April 14, the 'Petition on Two-Year Postponement of Coin Taxation' reached 57,790 signatures, meeting the quorum requirement. The petition argues that implementing digital asset taxation could lead to a sharp decline in exchange revenues and subsequently reduce corporate tax income. Earlier this May, a separate petition advocating for the abolition of the tax also surpassed 50,000 signatures and was referred to a standing committee. While the government maintains its stance on normal tax implementation starting January 2027, the People Power Party opposes it, citing insufficient infrastructure.