PANews, June 21 – According to Edaily, a national petition in South Korea calling for the "abolition of virtual asset (cryptocurrency) taxation" has received 57,171 signatures. Under the National Assembly Act, once the petition has been referred to the relevant committee for 30 days, it must be submitted for deliberation at the first committee meeting held thereafter. Under the current Income Tax Act, starting January 1 next year, income from the transfer or lending of virtual assets will be classified as other income and subject to income tax. Virtual asset income exceeding 2.5 million won (approximately $1,800) will be subject to a total tax rate of 22%, which includes other income tax (20%) and local income tax (2%).