South Korea investors seek two-year crypto tax delay

South Korean investors have secured the 50,000 signatures needed to send a petition seeking another crypto tax delay to the National Assembly for legislative review. Summary 50,000 signatures have triggered National Assembly review of a petition seeking another crypto tax delay. South Korea currently plans to tax qualifying crypto gains at 22% from January 2027 nationwide. Annual digital asset gains above 2.5 million won will fall within the planned tax regime. Tax authorities plan detailed standards this year before income becomes taxable on January first 2027. The petition’s committee referral does not automatically amend the law or postpone its effective date. The National Assembly’s public petition calls for the scheduled Jan. 1, 2027, start date to be postponed by two years, while finance officials say preparations for the tax remain underway. South Korea plans to tax annual income from transferring or lending digital assets at a 20% national rate. A 2% local income tax raises the combined burden to 22%. Each resident receives an annual basic deduction of 2.5 million won, currently worth approximately $1,850. The petition crossing the signature threshold requires the National ...