South Korea requires reporting of crypto held on bankrupt overseas exchanges
South Korea's National Tax Service announced that residents must report overseas financial accounts tied to offshore crypto exchanges even if the exchange has gone bankrupt, when foreign-account balances exceed approximately $370,000 (₩500M). The rule applies to crypto held on bankrupt overseas exchanges and inaccessible funds.
Detected & updated continuously · Source: Nebula
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@ItsBitcoinWorld
📑 Bankruptcy does not wipe the tax form. South Korea’s @ntskorea says residents still have to report overseas financial accounts tied to offshore crypto exchanges, even if that exchange has gone bust. The rule in one line: If you opened an account at an overseas virtual
@CryptooIndia
JUST IN: 🇰🇷 South Korea says crypto held on bankrupt overseas exchanges must still be reported if balances exceed $370,000 https://t.co/jAFtVQsiYm
@CryptoMeterIO
🇰🇷 JUST IN: South Korea says residents must report crypto held on bankrupt overseas exchanges if foreign-account balances exceed ₩500M (~$370K).
@cryptothedoggy
🚨BREAKING🚨 South Korea tightens crypto reporting. • Report if over $370,000 • Bankrupt exchange holdings count • Even inaccessible funds be disclosed https://t.co/XoliA8pPIH