- South Korean investors secured 50,000 signatures to seek a two-year crypto tax delay.
- The planned crypto tax would impose a combined 22% rate on qualifying gains.
- The National Assembly review does not automatically delay the January 2027 rollout.
South Korean crypto investors have secured more than 50,000 signatures for a petition seeking another two-year delay to the country’s planned digital asset tax.
The proposal now qualifies for National Assembly committee review as authorities continue preparing for the January 2027 rollout. The latest push highlights ongoing concerns over tax infrastructure, transaction tracking and the potential impact on domestic crypto markets.
Petition Reaches National Assembly Review Threshold
The petition calls for South Korea to delay its crypto tax from January 1, 2027, to 2029. It surpassed the 50,000-signature threshold, allowing referral to a relevant National Assembly committee for review.
However, the referral does not automatically change the existing tax law or suspend implementation. Lawmakers must approve another amendment before the proposed delay can take effect.
The campaign reflects continuing opposition to South Korea’s long-delayed digital asset taxation framework. Investors argue that current systems remain inadequate for accurately tracking transactions across exchanges and private wallets.
The petition also raises concerns about market conditions and potential investor migration toward overseas platforms. Supporters warn that taxation could become harder to enforce if domestic investors move activity outside South Korea.
A separate petition seeking to abolish the crypto tax entirely also surpassed 50,000 signatures in May. That proposal reached committee review but has not resulted in legislation changing the scheduled tax framework.
Crypto Tax Remains Scheduled for January 2027
Under the current framework, South Korea plans to tax qualifying digital asset gains at a combined rate of 22%. The rate consists of a 20% national tax and a 2% local income tax.
The regime would apply after an annual basic deduction of 2.5 million won, or roughly $1,850. Taxable income would include gains from selling, exchanging or lending digital assets.
The government has already postponed implementation three times, moving the original 2022 start date through 2023 and 2025 before settling on 2027.
Meanwhile, authorities continue preparing for implementation despite the latest petition. Lee Hyoung-il, nominee for deputy prime minister and finance minister, said the National Tax Service plans to issue detailed tax standards before the end of 2026.
Those standards are expected to address acquisition costs, transaction records and other calculation issues. Officials are also preparing blockchain-tracing capabilities to help identify transactions involving private wallets.
Foreign exchanges and self-custodied wallets would not receive a general exemption under the planned framework. International reporting mechanisms could also provide authorities with additional transaction information from 2027.
For now, the petition has opened another parliamentary review process, while the January 2027 implementation date remains unchanged.
