Comment on South Korea to closely monitor cross-border crypto transactions

South Korea to closely monitor cross-border crypto transactions

South Korea plans to increase the oversight of cryptocurrency cross-border transactions as part of counter tax-evasion measures. According to local Korean news outlet Edaily, South Korea’s finance minister Choi Sang-Mok announced the incoming oversight increase at a G20 meeting in Washington. The lawmaker said that the country will introduce a reporting mandate for any business involved in cross-border crypto transactions.

 

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