South Korea's Tax Agency Requires Reporting of Overseas Crypto Accounts Despite Exchange Bankruptcy

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Digital asset news from South Korea on September 7, 2026, shows the National Tax Service requires residents to report overseas crypto exchange accounts even if the platform fails. The rule applies to all virtual asset operators, regardless of financial stability. The total value of digital assets in such reports is expected to fall to 10.5 trillion KRW in 2026, a 5.4% drop from the previous year. Crypto exchange news highlights ongoing regulatory focus on offshore holdings.

According to ME News, on September 7 (UTC+8), the National Tax Service of South Korea issued guidelines stating that individuals holding accounts at overseas virtual asset (digital asset) exchanges must report those accounts as foreign financial accounts, even if the exchange has gone bankrupt. On August 28, the National Tax Service stated: “Residents who open accounts with overseas virtual asset operators for the purpose of trading digital assets must report such accounts as foreign financial accounts, even if the operator becomes insolvent.” Additionally, the estimated value of digital assets to be included in the foreign financial account reporting scope in 2026 is projected to reach KRW 10.5 trillion, a 5.4% decrease from 2025. (Source: PANews)

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