South Korea's tax agency: off-exchange cash deals will remain outside crypto taxation
- —From 2026, Korean exchanges must file digital asset transaction reports with the NTS
- —An exchanger via Telegram swapped USDT for 3.39 billion won in cash across 152 transactions, with a 2–5% commission
- —The FIU has no authority to directly inspect unregistered operators, and amendments to the law are stuck in committee
- —NKOP: without covering foreign exchanges and DeFi, inequality and tax resistance are possible
Why it matters: Gaps in covering off-chain transactions could undermine the fairness of the tax and accelerate the shift of trading into the shadow segment.
Source: Blockmedia