South Korean Investors Renew Push To Delay Crypto Tax As Officials Hold Firm

South Korean crypto investors are once again calling for a delay to the country’s planned tax on digital asset gains, even as regulators insist the policy will move forward as scheduled starting in 2027.

Petition Reaches Signature Threshold

A new petition asking lawmakers to postpone the crypto tax by two years has crossed the 50,000-signature mark needed to trigger automatic legislative review. This marks the fourth attempt to delay a tax plan that has already been pushed back three times since it was first proposed back in 2022.

Investors Cite Market Struggles

One petitioner argued that most crypto investors are currently sitting on losses, and that several major Korean crypto companies have seen sharp declines in profits, with the broader industry struggling financially. The petition claims that introducing the tax now would unfairly limit opportunities for younger investors trying to build wealth. It also warned that the tax could push traders toward offshore platforms and that heavy market volatility would likely result in very little actual revenue for the government.

This isn’t the first attempt this year to challenge the tax. Back in May, a separate petition calling for the tax to be scrapped entirely also reached the signature threshold quickly, though it ultimately stalled after committee review.

Government Maintains Its Position

Despite the pushback, officials remain firm on moving forward. The planned tax will apply a combined rate on annual crypto gains above a set exemption amount, covering income from selling, transferring, and lending digital assets. A nominee for a top economic ministry post confirmed over the weekend that the plan remains on track, with tax authorities expected to release detailed guidelines later this year.