South Korea Crypto Investors Push for Fourth Delay of Digital Asset Tax

South Korean crypto investors are pushing to delay the country's digital asset tax for a fourth time, ahead of its planned rollout on January 1, 2027. A petition seeking a two-year extension has gathered over 50,000 verified signatures, meeting the threshold required to send the proposal to lawmakers.

The government, however, remains committed to implementing the tax despite growing concerns about the country's readiness for it. The National Tax Service plans to release detailed standards for crypto taxation later this year, but investors claim that the current infrastructure and market structure are not sufficient to handle the levy.

According to the petition, many crypto holders in South Korea are carrying significant losses, with operating profits at major Korean crypto companies having fallen by as much as 90%. The tax may also push users toward overseas platforms, reducing a wealth-building opportunity for younger investors and putting them at a disadvantage.