South Korea’s planned crypto tax, scheduled to take effect in January 2027, is facing growing opposition from investors. Notably, lawmakers from the ruling Democratic Party, which has generally supported moving forward with taxation, have now joined a bill seeking to effectively delay implementation by two years. On October 16, 14 lawmakers from the Democratic Party and the Rebuilding Korea Party introduced an amendment to the Income Tax Act that would adjust the tax timeline in consideration of the Crypto-Asset Reporting Framework (CARF) and its information-sharing schedule. This marks the first time Democratic Party lawmakers have introduced a bill to postpone crypto taxation. Investor pressure has played a role in bringing the issue back into the spotlight. Supporters of a delay have continued truck and one-person protests near the National Assembly, calling for clearer tax rules and better reporting infrastructure. Their position is not necessarily opposition to taxation itself, but a call to ensure the system is ready before implementation. Key concerns include raising the basic deduction, allowing loss carryforwards, and clarifying how DeFi income and transaction fees should be taxed. As South Korea’s crypto tax debate enters a new phase, it may be worth considering whether more time is needed to establish a clear and workable framework before implementation. A well-prepared tax system could be an important part of supporting the long-term growth and competitiveness of the Korean crypto market. 👀