South Korea has implemented a comprehensive framework to monitor cryptocurrency transactions by sharing data between domestic and international tax authorities. Joining the Crypto-Asset Reporting Framework (CARF) under the OECD, the initiative aims to improve transparency, combat offshore tax evasion, and standardize reporting across borders. Starting in 2025, transaction details from domestic and foreign exchanges will be collected and shared globally, with the system becoming fully operational by 2027. This move aligns South Korea with major economies enhancing oversight and regulatory cooperation in the crypto sector.
Continue to read South Korea Advances Global Crypto Transaction Reporting to Boost Tax Transparency
South Korea has implemented a comprehensive framework to monitor cryptocurrency transactions by sharing data between domestic and international tax authorities. Joining the Crypto-Asset Reporting Framework (CARF) under the OECD, the initiative aims to improve transparency, combat offshore tax evasion, and standardize reporting across borders. Starting in 2025, transaction details from domestic and foreign exchanges will be collected and shared globally, with the system becoming fully operational by 2027. This move aligns South Korea with major economies enhancing oversight and regulatory cooperation in the crypto sector.
Continue to read South Korea Advances Global Crypto Transaction Reporting to Boost Tax Transparency
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