đ¨ Petition to Delay Crypto Taxes in South Korea Reaches 50,000 Signatures
Hereâs what you need to know:
â The petition âTwo-Year Delay of Coin Taxâ officially reached the 50,000-signature requirement on Sept 13
â ď¸ It surged fast â from 40,363 signatures (Sept 11) to 50,000 in just 2 days
â It is automatically referred to the National Assemblyâs Strategy and Finance Committee for an official review
Reactions that need to be clarified: this referral to the committee DOES NOT mean the tax is automatically delayed. It only opens a path for formal discussion â the final decision still lies with lawmakers, and the government through the new finance minister remains insistent that the tax will proceed according to the January 2027 schedule.
Why is this different from the previous petition?
This isnât the first one. Back in May, a similar petition to eliminate this entire tax also reached 50,000 signatures and was referred to the committee â but it stopped there and did not develop into a legal change. So hitting the threshold is important procedurally, but historically it doesnât necessarily lead to concrete outcomes.
Main trigger:
The tax plan itself is fairly heavy â a combined rate of 22% (20% national + 2% local) on profits above 2.5 million won (around $1,650â1,800). The petition highlights three reasons: many investors are currently suffering major losses, several Korean crypto companies reported operational profit declines of up to 90%, and the decentralized transaction-tracking system is considered not yet ready to enforce this tax fairly.
Why it matters for crypto:
South Korea is one of the largest crypto retail markets in the world, with a highly active trader base in the popular assets there.
$BTC
â Asia macro sentiment is also affected by Koreaâs policy direction
$XRP â one of the Korean retail tradersâ favorite assets, prone to react to local regulatory sentiment
$ETH â dragged along with the regionâs risk-on/off mood if policy clarity emerges
Remember, this is only the âforced to be discussedâ stage, not âtax delayed.â What needs to be watched next isnât the number of signatures, but the committeeâs official decision.
Not investment advice. DYOR.
#southkoreacryptotaxdelaypetitiontops50000
Hereâs what you need to know:
â The petition âTwo-Year Delay of Coin Taxâ officially reached the 50,000-signature requirement on Sept 13
â ď¸ It surged fast â from 40,363 signatures (Sept 11) to 50,000 in just 2 days
â It is automatically referred to the National Assemblyâs Strategy and Finance Committee for an official review
Reactions that need to be clarified: this referral to the committee DOES NOT mean the tax is automatically delayed. It only opens a path for formal discussion â the final decision still lies with lawmakers, and the government through the new finance minister remains insistent that the tax will proceed according to the January 2027 schedule.
Why is this different from the previous petition?
This isnât the first one. Back in May, a similar petition to eliminate this entire tax also reached 50,000 signatures and was referred to the committee â but it stopped there and did not develop into a legal change. So hitting the threshold is important procedurally, but historically it doesnât necessarily lead to concrete outcomes.
Main trigger:
The tax plan itself is fairly heavy â a combined rate of 22% (20% national + 2% local) on profits above 2.5 million won (around $1,650â1,800). The petition highlights three reasons: many investors are currently suffering major losses, several Korean crypto companies reported operational profit declines of up to 90%, and the decentralized transaction-tracking system is considered not yet ready to enforce this tax fairly.
Why it matters for crypto:
South Korea is one of the largest crypto retail markets in the world, with a highly active trader base in the popular assets there.
$BTC
â Asia macro sentiment is also affected by Koreaâs policy direction
$XRP â one of the Korean retail tradersâ favorite assets, prone to react to local regulatory sentiment
$ETH â dragged along with the regionâs risk-on/off mood if policy clarity emerges
Remember, this is only the âforced to be discussedâ stage, not âtax delayed.â What needs to be watched next isnât the number of signatures, but the committeeâs official decision.
Not investment advice. DYOR.
#southkoreacryptotaxdelaypetitiontops50000
