Woofun AI reports that the Korean National Tax Service is advancing preparations for virtual asset taxation scheduled for 2027. This initiative involves creating a dedicated digital asset division and deploying a comprehensive analysis system.

Meanwhile, a congressional petition signed by 50,000 individuals demanding the repeal of the tax has not been placed on the agenda, causing related legislative discussions to stall.

Under existing regulations, virtual asset investment gains are subject to a 22% tax rate after a 2.5 million Korean won deduction. Unlike stock investors who enjoy capital gains tax exemptions, crypto investors cannot carry forward losses or deduct them across years. Further progress on these issues is anticipated after the government releases its tax reform plan in late July.