Even if the exchange goes bankrupt, Korea's National Tax Service still requires individuals to report overseas financial accounts

Odaily News: The Korea National Tax Service has issued a regulation stating that even if an overseas virtual asset exchange goes bankrupt, individuals holding accounts on that exchange must still report such accounts as overseas financial accounts. The tax authority stated that residents who open accounts with overseas virtual asset operators for digital asset trading must report these accounts even if the operators go bankrupt. It is expected that the scale of digital assets included in the scope of overseas financial account reporting in 2026 will reach 10.5 trillion Korean won, a decrease of 5.4% compared to 2025.