South Korean lawmakers and industry groups call for delay to 2027 crypto tax plan

South Korea’s ruling Democratic Party, opposition lawmakers, and industry groups are calling for a delay to the country’s cryptocurrency tax plan, which is currently scheduled to take effect in January 2027. According to ChainCatcher, the push reflects concerns over whether the legal and administrative groundwork for taxation is ready. Min Byung-deok, a member of the Democratic Party’s policy committee, said taxation should not begin before the Basic Digital Asset Act is in place. He argued that the current framework does not yet provide a sufficient legal or institutional basis for imposing the tax. He also pointed to unresolved practical issues, including the difficulty of tracking income earned through overseas exchanges and the lack of a complete mechanism for carrying forward investment losses. The latest call brings together voices from both sides of the aisle as well as industry representatives, focusing attention on the implementation timeline rather than announcing any finalized policy change.