South Korean Crypto Tax Delay Pushed by 50,000 Signature Petition

A public petition in South Korea has reached the required 50,000 signatures to delay the implementation of the country's 22% crypto tax. The regulation, currently set to take effect on January 1, 2027, was pushed back three times prior to this new request for a two-year extension.

The approved tax regime combines a 20% national levy and a 2% local surtax, resulting in a 22% tax liability categorized under 'other income.' The annual tax-free allowance is set at 2.5 million won (approximately $1,860), requiring reporting on any net gains above that threshold.

Petitioners argue that the domestic ecosystem lacks the technical infrastructure to accurately calculate acquisition costs across foreign exchanges and private non-custodial wallets. According to data from Tiger Research, roughly 700 trillion won in digital asset-linked funds exited the country toward offshore platforms over the past five years.