South Koreans Proclaim $98.5bn in Overseas Crypto Assets!

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Sep 20, 2023 15:21

South Korean taxpayers have declared overseas cryptocurrency assets worth $98.5 billion after the country introduced reporting requirements for such assets earlier this year. A total of 1,432 individuals and companies reported owning the assets, which represented 70.2% of the total value of reported foreign holdings. The country requires nationals who possess assets worth over $448,300, including crypto, in foreign accounts to disclose their holdings.