Regulation· ★★★· neutral·

South Korea tax chief: tracking crypto transfers between personal wallets is not feasible

  • —Gains from 2027 crypto trades are taxable, with declarations due in May 2028
  • —Upbit is building its tax system, Bithumb has not started, Coinone is waiting for the law
  • —Lawmaker Park Soo-young: with about three months left, systems should already be in testing
  • —Risks cited: withholding errors for non-residents and inconsistent tax bases across exchanges
Why it matters: Delays in tax infrastructure and the inability to trace peer-to-peer transfers create uncertainty for Korean investors and exchanges.
Source: Bloomingbit
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