South Korea considers imposing education tax on crypto CEXs

Odaily Report: The South Korean government recently informed heads of crypto CEXs that if CEXs are classified as financial institutions under the proposed digital asset bill, it will consider imposing an education tax on them. Currently, South Korea's crypto trading and brokerage businesses are classified as information and communications businesses and are not required to pay the education tax. Banks, insurance companies, and securities firms pay the education tax based on operating revenue, with a rate of 0.5% on the first 1 trillion won and 1% on the excess.