South Korea

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South Koreans Are Required to Pay Taxes for Crypto Holdings in Overseas Exchanges, Authorities Warn

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South Korean tax authorities are unstoppable in keeping crypto holders in their eyes and making them accountable to pay taxes. The National Tax Service (NTS) has issued a warning to the crypto traders that they have to report their earnings even from tokens held in foreign exchanges. No Details on How the Agency Will Supervise … Read more

South Korean Tax Agency Identifies Over 2,400 Evaders Who Used Cryptocurrencies to Bypass Taxation

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South Korean authorities seem to be focusing on strengthening measures to combat tax evasion across the nation. The country’s tax watchdog profiled thousands of evaders that relied on cryptocurrencies to hide assets worth billions of Korean won. Evaders Hid a Total of $32.24 Million in Assets Per the Korea Herald, the National Tax Service of … Read more

South Korean Officials Notice a Sudden Rise in Crypto Mining Rigs Imports- Over 41 Shipments Intercepted in 3 Months

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Crypto adoption is a hot topic in South Korea, and recent figures have been proving it. However, crypto mining activity is also starting to gather interest across the country, per the latest reports from local media outlets. A Single Rig Should Worth $150 ‘or Less’ to Be Considered for Personal Use According to Kyungin Ilbo, … Read more

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