Catenaa, Wednesday, September 03, 2025- South Korea will begin logging and sharing cryptocurrency transaction data with the National Tax Service as part of a broader global reporting initiative, local reports said Tuesday.
The move includes transactions by non-residents on domestic exchanges such as Upbit and Bithumb, as well as activity by South Korean investors on foreign platforms.
The program aligns with the Crypto-Asset Reporting Framework (CARF), an international standard designed to automatically exchange tax information across 48 participating countries.
South Korea officially signed the CARF agreement at the Organization for Economic Cooperation and Development (OECD) in November 2023, signaling its commitment to increasing transparency and reducing offshore tax evasion.
The Ministry of Economy and Finance plans to issue an administrative notice this month outlining detailed regulations for CARF implementation. uthorities in the UK, Germany, Japan, and other jurisdictions are also adopting the framework to monitor cryptocurrency activity and enforce reporting requirements.
Under the system, domestic exchanges must submit personal and transaction data for residents of participating countries. Experts anticipate that privacy-focused users may reduce trading volumes, while exchanges may face increased compliance obligations.
Information collection will begin in 2026, with data sharing through the OECD platform scheduled for 2027.
Ministry officials emphasized that the virtual asset information exchange is governed by international agreements and is distinct from direct taxation.
The framework is expected to bolster cross-border transparency and provide regulators with comprehensive oversight of cryptocurrency transactions involving South Korean participants.
