South Korea to Share Crypto Data with 48 Nations, $790M in Transactions Reported
South Korea will share cryptocurrency transaction information with up to 48 countries under the OECD’s Crypto-Asset...
Quick overview
- South Korea will share cryptocurrency transaction information with up to 48 countries under the OECD’s Crypto-Asset Reporting Framework starting next year.
- Local and foreign investors' transaction histories will be reported to South Korea's tax authorities to enhance transparency and compliance.
- The CARF framework requires mutual data sharing agreements with partner countries, including major economies like the UK and Japan.
- This initiative is part of South Korea's broader effort to strengthen crypto tax compliance and combat tax evasion in the crypto market.
South Korea will share cryptocurrency transaction information with up to 48 countries under the OECD’s Crypto-Asset Reporting Framework (CARF). The government will start collecting data from local and foreign investors on exchanges like Upbit and Bithumb from next year and the system will be fully operational by 2027.
Local investors’ transaction history will also be reported to South Korea’s tax authorities. Crypto exchanges will have to provide both transaction records and user information to ensure transparency and compliance with international tax rules.
📊 South Korea will share crypto data with 48 nations. South Korea has agreed to share information on crypto transactions with as many as 48 states, as per the agreement on the OECD’s Crypto-Asset Reporting Framework.
— Crypto News 📰 (@btc_af) September 2, 2025
Key Reporting Rules and Timeline
The CARF framework introduced by the Organization for Economic Co-operation and Development requires member states to automatically exchange crypto transaction data with partner countries that reciprocate. This includes major economies like the UK, Germany and Japan. Data sharing will only happen if the partner country agrees to report similar information back to South Korea.
The Ministry of Economy and Finance will issue an administrative notice this month to outline the detailed rules for investors and crypto exchanges. Officials said, “We will establish detailed rules for the Virtual Asset Information Exchange Agreement” emphasizing the system’s role in standardizing crypto reporting.
Implementation Schedule:
- Data collection starts next year; full operation in 2027
- Exchanges report local and foreign investor transactions
- Framework applies only to countries that agree to mutual data sharing
- Annual reporting for large or unusual transactions
Crypto Tax Transparency and Enforcement
South Korea’s move is part of its broader effort to strengthen crypto tax compliance. The reporting framework coincides with the delayed Crypto Tax bill which was postponed by two years to allow for regulatory adjustments.
South Korea joins the OECD’s Crypto-Asset Reporting Framework, agreeing to share crypto transaction data with 48 nations starting 2027.
Exchanges like Upbit & Bithumb must report user histories to tax authorities next year, tightening oversight on fraud & cross-border flows. pic.twitter.com/K0rJUkaGV1
— cursedalpha (@cursedtrader_) September 2, 2025
According to national data, foreign crypto transactions this year reached KRW 11.1 trillion ($790 million) up from KRW 700 billion ($503 million) last year. The OECD framework is designed to prevent cross-border tax evasion, improve transparency and detect money laundering or fraud in the crypto market.
In recent years, South Korea has been cracking down on crypto-related tax evasion. Between 2021 and 2022, authorities seized around $180 million worth of cryptocurrencies from non-compliant investors. With CARF in place, both domestic and foreign crypto activities will be under closer scrutiny, a big step towards global crypto regulation.
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