South Korea to Begin Sharing Crypto Transaction Data Worldwide

South Korea’s Ministry of Economy and Finance has officially signed an agreement with the OECD to implement the Crypto-Asset Reporting Framework (CARF), a new global standard for sharing digital asset transaction data. The move is designed to combat offshore tax evasion and increase transparency in the crypto market.

The agreement will require domestic exchanges like Upbit and Bithumb to share data on foreign users with their home tax authorities, while South Korea will gain access to its citizens’ transaction history on overseas platforms.

The country will begin collecting transaction records in 2026, with the first international data exchange set for 2027. While the Ministry clarified that this is a separate matter from domestic taxation, the new regulations could lead to a short-term dip in trading volume as privacy-driven users may shift away from local exchanges.

Both Hong Kong and South Korea are making significant moves to integrate digital assets into their mainstream financial systems. Hong Kong recently joined the OECD’s Crypto-Asset Reporting Framework (CARF), a global standard for sharing crypto tax data, with its first data exchange scheduled for 2028. The move is part of the city’s broader efforts to enhance financial transparency and align with new anti-money laundering regulations.

In a complementary but different effort, South Korea has passed a new tokenization law, which officially legalizes tokenized securities. This bipartisan measure recognizes blockchain as a valid record-keeping system, paving the way for the large-scale issuance of security tokens and further integrating digital assets into Korea’s financial markets. Together, these developments highlight a strong regulatory push in both regions to position themselves at the forefront of global financial innovation.

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Crypto Regulation, South Korea