South Korea To Regulate Cross-Border Crypto Transactions In 2025

Quick Summary:

South Korean authorities announced their plan to fully regulate cross-border crypto transactions by the end of 2025 to combat a "blind spot” enabling tax evasion by foreign exchanges.

Choi revealed that the recent surge is due to stablecoins popularity, as it can be used for cross-border transactions and payments “just like real foreign exchanges.

The South Korean Economy and Finance Ministry plans to conclude the revision of the Foreign Exchange Transactions Act and related laws in the first half of next year.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Rubmar Garcia

Category: Crypto

Markets: HungaryJapanSouth Korea

Topics: South Korea crypto regulation BTCUSDT Btc South Korean authorities Foreign Exchange Transactions Act Stablecoins Crypto tax laws Total Cross-border payments Cross-border crypto transactions Crypto News Crypto transactions

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-26 @ 17:30:30 (2 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 490 words

Reading Time: 3 minutes read

Sentences: 28 lines

Sentence Length: 18 words per sentence (average)

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

Copyright Owner: © Bitcoinist

News ID: 23252793

View Article Analysis

About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 8 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 10 hours ago

Coverage Areas: Hungary

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: #105

Publisher Details

Frequently Asked Questions