According to South Korean media outlet “Seoul Economic,” a petition presented to the National Assembly that calls for the abolition of virtual asset taxation has received the approval of more than 50,000 people within 8 days, meeting the threshold for submission to a parliamentary standing committee for review. The proposed tax regime would impose a 22% tax rate, including local taxes, on virtual asset gains with annual returns exceeding 2.5 million South Korean won (about 1,800 USD). The petitioners believe that ordinary stock investors in South Korea are basically exempt from taxation on transferred gains, while virtual assets are taxed separately, which they say is unfair. They also argue that the current tax system and investor protection mechanisms are still not comprehensive.