South Korea to share domestic and international crypto asset transaction information with tax authorities

On September 2nd, it was reported that South Korea will commence procedures to share transaction information concerning foreign investors trading Bitcoin and other cryptocurrencies on local exchanges with global tax authorities.

The South Korean National Tax Service will also be informed about transactions conducted by Korean investors on international exchanges. A notice on the specific regulations regarding the Crypto-Asset Automatic Exchange of Information (CARF) will be issued soon.