South Korea's Crypto Tax Petition Hits 50K Signatures as Regulators Hold Firm

A petition to delay South Korea's 22% crypto gains tax has collected over 50,000 signatures, but regulators remain firm on implementing it on January 1, 2027.

The proposed tax would apply to annual cryptocurrency gains above a 2.5 million won ($1,856) basic deduction, with a base rate of 20% plus a 2% local surcharge.

Crypto investors in South Korea have been pushing for a two-year delay, arguing that most investors are currently sitting on losses and that the tax would push investors toward offshore platforms due to high market volatility.

The government has reaffirmed its stance, with nominee Lee Hyoung-Il stating that the tax is proceeding as planned and that detailed tax standards will be released before the end of the year.