South Korea’s National Tax Service said it plans to introduce a commercial crypto-tracking tool used by domestic and overseas investigative agencies as it prepares to tax income generated through private wallets from 2027. The software is meant to identify and trace crypto-asset transactions involving private wallets for tax compliance purposes. Under South Korea’s current plan, a 20% tax will apply to annual crypto-asset gains above 2.5 million won, or about $1,800, starting on Jan. 1, 2027. The update was carried by Techub News, which cited Crypto.news.
South Korea’s National Tax Service said it will introduce commercial crypto-tracking software used by domestic and overseas investigative agencies as it prepares to tax income generated through private wallets from 2027.
The software is intended to identify and trace crypto-asset transactions involving private wallets to ensure tax compliance.
Under South Korea’s current plan, the country will levy a 20% tax on annual crypto-asset gains above 2.5 million won, or about $1,800, starting on Jan. 1, 2027.
Techub News reported the update and cited Crypto.news.
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