The Korean government announced on September 2 that it will begin automatically sharing cryptocurrency transaction data of both domestic and foreign investors between tax authorities. The measure is part of the adoption of the Crypto-Asset Reporting Framework (CARF), aimed at strengthening global tax transparency. The framework will undergo administrative notice this year before implementation.
According to the Ministry of Economy and Finance, transaction records of foreign (non-resident) investors trading cryptocurrencies such as Bitcoin on Korean exchanges will be shared with their respective national tax authorities. Likewise, Korean residents’ transactions on overseas crypto exchanges will be reported to the National Tax Service starting next year.
CARF is an international information-sharing framework designed to prevent offshore tax evasion and enhance global tax transparency. Currently, 48 countries, including the UK, Germany, and Japan, are participating. Korea plans to release detailed implementation regulations for CARF later this month.
At present, overseas financial account reporting applies only to individuals holding more than 500 million KRW in crypto assets at the end of the month. However, once CARF takes full effect, all overseas crypto transactions, regardless of value, will be automatically shared.
Meanwhile, Korea’s taxation of crypto assets is scheduled to begin in 2027, as the measure is still under deferral. An official from the Ministry of Economy and Finance stressed that the information-sharing initiative is separate from taxation policies and follows international agreements.
