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South Korea to Share Crypto Investor Data Globally Under OECD CARF Rules

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By BlockFlowSep 03, 2025

South Korea will implement OECD’s Crypto-Asset Reporting Framework (CARF), requiring local exchanges like Upbit and Bithumb to report foreign investors’ data from 2026, with global information sharing to begin in 2027. The move aims to enhance tax transparency and curb offshore evasion, separate from Korea’s delayed crypto tax regime.

South Korea’s Ministry of Finance announced it will release detailed regulations this month for the Crypto-Asset Reporting Framework (CARF), an international system that enables the automatic exchange of cryptocurrency transaction data across borders.

The CARF initiative, coordinated by the OECD, brings together 48 countries including the UK, Germany, and Japan to improve tax transparency and combat offshore tax evasion. Under the framework, Korean exchanges such as Upbit and Bithumb will be required from 2026 to report foreign investors’ personal and transaction data to local tax authorities. That information will then be shared globally beginning in 2027, covering 2026 transactions.

The arrangement also means Korean investors’ activity on overseas exchanges will be reported back to the National Tax Service (NTS). Currently, Koreans are required to voluntarily declare overseas financial accounts exceeding KRW 500 million, including virtual assets. Reported overseas virtual assets reached KRW 11.1 trillion this year, up KRW 700 billion from 2024.

Officials stressed that the measure focuses on transparency and international cooperation, and is separate from taxation. While countries like the US and Germany already tax cryptocurrency gains, South Korea has postponed its own crypto income tax until 2027.

South Korea OECD Upbit Bithumb

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