A South Korean petition seeking a two-year deferral of the country's scheduled cryptocurrency tax has crossed the signature count required to qualify for parliamentary committee review, a pro
A South Korean petition seeking a two-year deferral of the country's scheduled cryptocurrency tax has crossed the signature count required to qualify for parliamentary committee review, a procedural milestone that pressures lawmakers to deliberate the request even as it changes nothing in the underlying Income Tax Act that still schedules taxation to begin in 2027.
The petition, titled "Petition on a Two-Year Delay to Coin Taxation," reached 50,000 signatures on September 13, 2026, equal to 100% of the required support for committee referral, Bloomingbit reported. The outlet's tally is a named report; the official live count on the National Assembly portal could not be independently verified because the linked petition page returned an HTTP 404 error at the time of research. For related coverage, see South Korea Crypto Exchange Volume Falls 89% YoY to $305M.
Reported petition signatures
50,000
Bloomingbit reported 50,000 signatures on September 13, 2026, meeting the stated threshold for parliamentary committee review. The official live tally and completed referral were not independently verified.South Korea's National Assembly requires a public-consent petition to gather 50,000 signatures within 30 days to qualify for committee deliberation, a threshold this petition has now reportedly met. Reaching that bar is the specific outcome established here, and nothing more. For related coverage, see South Dakota Crypto Investor Indicted in Alleged $20M Investment Fraud.
Crossing the signature line qualifies the deferral request for parliamentary consideration; it is not a vote, a hearing, or an amendment to tax law. The reported milestone means lawmakers are now obliged to take up the petition, not that they have agreed to postpone the levy. For related coverage, see South Korea Says It Is Coordinating With Japan, Allies on Exchange Rates.
The momentum was rapid: signatures stood at 40,363, displayed as 81% of the threshold, on September 11, 2026, per Bloomingbit's earlier figures, before clearing the full 50,000 two days later. The petition launched August 21 and needed the threshold by September 20, meaning it hit the mark roughly seven days ahead of the collection deadline.
The petition asks lawmakers to postpone crypto taxation by two years, shifting the start from a scheduled 2027 to 2029. That is the petitioners' request, not enacted policy; the Income Tax Act as reported still schedules the 2027 commencement.
Requested crypto-tax postponement
2027 → 2029
The petition seeks a two-year delay from the reported scheduled start in 2027 to 2029, according to Bloomingbit. Reaching the signature threshold does not itself change the law; no enacted postponement was verified.The scheduled framework applies a 22 percent rate to annual gains from trading or lending virtual assets exceeding 2.5 million won, The Korea Times reported on August 28, 2026. Were the tax to take effect as scheduled, the first returns would be filed in May 2028.
Petitioners attribute the requested delay to concerns over unfinished tax infrastructure, the risk of funds migrating to overseas exchanges, and a potential contraction of the domestic market, according to Bloomingbit; those are the petition's arguments, not measured outcomes. The tax debate is unfolding alongside a broader tightening of oversight, including new rules on reporting overseas crypto accounts and civil seizure provisions for crypto assets taking effect October 1.
The threshold crossing qualifies the petition for committee-level consideration; it does not amend the Income Tax Act or commit any lawmaker to the 2029 date. Approval of the deferral is a separate legislative step that the reported milestone does not establish.
A parallel legislative track already exists: The Korea Times reported an August 10 bill by Rep. Jung Sung-kook seeking a three-year delay to January 1, 2030, distinct from this two-year petition. Any committee referral, hearing date, or enacted amendment would need to be confirmed against official parliamentary records before it can be treated as scheduled or completed.
The domestic backdrop is one of thinning activity, with South Korean exchange volume down 89% year-on-year to roughly $305 million, a contraction that gives the petition's market-shrinkage argument added political weight even though no causal link to the tax schedule has been established.
The next concrete triggers are the official petition status on the National Assembly portal, any committee referral notice, and whether lawmakers advance either the petition or the competing three-year delay bill toward a vote before the 2027 start date. None of those steps is confirmed as of publication.
Independent confirmation of the petition record, signature count, and the completed referral remains outstanding; the official detail page returned a 404 and the portal itself renders only as a JavaScript shell, per the research review. Bitcoin, a broad-market proxy given no individual asset is named here, traded near $76,663, down about 0.7% over 24 hours as of September 14, 2026 UTC, a snapshot with no established connection to the Korean petition.
A two-year deferral of the country's scheduled cryptocurrency tax, shifting the reported start from 2027 to 2029.
It reportedly reached the 50,000-signature parliamentary review threshold on September 13, 2026, according to Bloomingbit; the official live tally was not independently verified.
No. Reaching the petition's review threshold qualifies it for committee consideration and does not establish approval; no enacted postponement was verified.
No. The reported milestone does not change the law or set a new implementation date; the 2027 commencement stands as reported unless amended.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
The post South Korea Crypto Tax Delay Petition Hits Review Threshold was initially published on Coincu.
