South Korea plans to launch crypto taxation in January next year, but overseas trading and crypto cards still have regulatory blind spots.

PANews October 14 news, according to South Korean media Sedaily, South Korea plans to launch cryptocurrency taxation in January next year, but there are still multiple loopholes in the tax infrastructure. Lim Kwang-hyun, commissioner of the National Tax Service of South Korea, said during a National Assembly audit that preparations are being made for the smooth implementation of taxation, but activities such as transfers between private wallets and transactions on overseas platforms remain difficult to fully track. Even with the introduction of the Crypto-Asset Reporting Framework (CARF), it will be difficult to cover all transactions. It is reported that the Bank of Korea also exposed related regulatory blind spots when it previously underwent a National Assembly audit.

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