TechFlow news, September 2 — According to South Korea's Kyunghyang Shinmun, the South Korean Ministry of Economy and Finance will announce detailed implementation rules this month for the Crypto-Asset Reporting Framework (CARF), an automatic information exchange system. This framework will enable automatic sharing of cryptocurrency transaction data between South Korea and 47 other countries.
Under the agreement, local cryptocurrency exchanges in South Korea (such as Upbit and Bithumb) will begin reporting personal information and transaction data of foreign investors to tax authorities starting in 2026. Countries will access overseas transaction records of their own residents through the OECD system. Although the data sharing will officially commence in 2027, transaction records from 2026 will also be included.
The South Korean Ministry of Economy and Finance stated that the move aims to enhance tax transparency and prevent cross-border tax evasion, and is not directly related to cryptocurrency taxation policy. While countries such as the United States and Germany have already begun taxing cryptocurrencies, South Korea has postponed the implementation of its cryptocurrency income tax until 2027.
