South Korean Crypto Holders Must Still Report Even if Overseas Crypto Exchanges Collapse
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4 Articles
The National Tax Service of South Korea maintains the obligation to report cryptocurrencies accounts in foreign exchanges even if the platform breaks, blocks withdrawals and leaves funds trapped.
Korea's tax service: report overseas crypto accounts even after the exchange fails
South Korea’s National Tax Service ruled on August 28 that a resident who holds crypto at an overseas exchange must still declare that account under the country’s foreign-account disclosure rules. The rule still applies even when the overseas exchange collapses and locks the holder out of trading or withdrawals. The rule lands months before Seoul...
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BITRSSSouth Korean crypto holders must still report even if overseas crypto exchanges collapse
South Korea’s National Tax Service ruled on August 28 that a resident who holds crypto at an overseas exchange must still declare that account under the country’s foreign-account disclosure rules. The rule still applies even when the overseas exchange collapses and locks the holder out of trading...
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