South Korea Plans to Monitor Cross-Border Crypto Transactions to Combat Tax Evasion

Quick Summary:

South Korea Plans to Monitor Cross-Border Crypto Transactions to Combat Tax Evasion In a decisive move to strengthen its regulatory framework and curb illicit activities within the cryptocurrency market, South Korea is implementing stringent measures to monitor cross-border crypto transactions.

According to a report by Edaily, the government will require pre-reporting of the purpose and specifics of these transactions, aiming to prevent the misuse of cryptocurrencies for tax evasion and illegal currency arbitrage.

As South Korea prepares to implement these changes by mid to late 2025, the global cryptocurrency community will be watching closely, recognizing the potential implications for regulatory practices worldwide.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Sonam Aggarwal

Category: Crypto

Markets: IndiaSouth KoreaMali

Topics: SOUTH KOREA Crypto News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-25 @ 07:01:46 (3 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 943 words

Reading Time: 6 minutes read

Sentences: 47 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 23236492

View Article Analysis

About BitcoinWorld

Main Topics: Crypto

Official Website: bitcoinworld.co.in

Update Frequency: 4 posts per day

Year Established: 2020

Headquarters: India

News Last Updated: 8 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #121

Publisher Details

Frequently Asked Questions