South Korea’s Crypto Tax Faces Fourth Postponement Push Ahead of 2027 Rollout

South Korean crypto investors are making another attempt to delay the country’s digital asset tax, with a petition seeking a two-year extension having secured enough public support to reach lawmakers.

The government, however, is still preparing to introduce the tax from January 1, 2027. 

The latest petition has collected 50,000 verified signatures, the level required to send the proposal to the appropriate National Assembly committee. If lawmakers do not approve another postponement, this would end a series of three previous delays to the tax plan.

What Crypto Investors Could Pay From 2027 

The tax would apply when an investor’s crypto gains for the year exceed 2.5 million won, or approximately $1,856.

Gains above that allowance would be subject to a total rate of 22%, combining a 20% base tax with a 2% local component. The framework covers earnings from selling, transferring, or lending digital assets.

Government Is Still Preparing for the Tax

Despite the renewed campaign for a delay, the government’s position has not changed. 

Lee Hyoung-Il, a nominee for Minister of Economy and Finance, said over the weekend that the tax remains on track, Yonhap News Agency reported.

Investors are also expected to receive more guidance before implementation. Lee said the National Tax Service plans to release detailed standards for crypto taxation later this year.

Why Investors Are Asking for Another Delay

Investors and crypto industry participants behind the push say the country’s tax infrastructure and crypto market structure are not sufficiently prepared for the levy.

The anonymous author of the latest petition also pointed to financial pressure across the market. The petitioner said many crypto holders are carrying significant losses and claimed that operating profits at major Korean crypto companies have fallen by as much as 90%, while the wider industry is also in the red.

The petition further argues that introducing the tax under these conditions would reduce a wealth-building opportunity for younger investors and put them at a disadvantage in terms of equal opportunity.

Another concern is where investors could choose to trade. According to the petitioner, the tax may push some users toward overseas crypto platforms. The petition also argues that the market’s high volatility could leave the government collecting relatively little tax revenue.

How the Petition Reached Lawmakers

South Korea’s National Assembly operates an electronic petition platform that allows citizens to request legislative changes.

A proposal that receives 50,000 verified signatures within 30 days is automatically referred to the appropriate standing committee for review.

Crypto Tax Has Already Been Postponed Three Times

The dispute follows repeated changes to the tax timeline, with South Korea postponing implementation of the crypto tax three times.

Opposition has also previously gone beyond calls for postponement.

In May, another petition asked lawmakers to abolish the planned crypto tax entirely. That petition collected 50,000 signatures in just eight days.

The petition was subsequently referred to a committee, but no further action followed.