Korea's crypto regulation at crossroads as rules tighten, tax delay proposed
Korea’s cryptocurrency regulatory framework is reaching a crossroads, with rules tightening on one front while efforts are underway to delay taxation on investment gains. Financial authorities plan to expand the “travel rule” for crypto transactions to cover all transfers, requiring exchanges to collect and provide transaction information, while also tightening registration and screening…
Korea's cryptocurrency regulatory landscape is at a crucial juncture as authorities tighten rules and consider delaying taxes on investment gains. Financial regulators plan to extend the "travel rule" for crypto transactions to encompass all transfers, requiring exchanges to collect and provide transaction information. Currently, the rule only applies to transfers exceeding 1 million won ($705).
This amendment, approved by the Cabinet, removes a threshold that allowed users to split transactions into smaller amounts to avoid reporting requirements. Additionally, a bill has been proposed to delay the taxation of crypto investment gains by three years, sparking renewed discussion about the timing of such taxes.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
