South Korea's National Tax Agency: Affected by the rise in crypto assets, the amount declared in overseas financial accounts increased by 46% compared with last year.

According to the Korea National Tax Agency on the 26th, a total of 6,858 people have declared overseas financial accounts totaling 94.50 trillion won this year. Compared with last year, the number of applicants increased by 1,901 (an increase of 38.3%), and the amount of declarations increased by 29.60 trillion won (an increase of 45.6%).
The State Administration of Taxation analyzed that the increase in filings this year is due to the increase in the number of virtual asset filings due to the rise in the value of cryptoassets, and the increase in the amount declared in stock accounts.
Since 2023, the number of crypto-asset accounts that have been included in the declaration object has increased by 1,277 people this year compared with last year, reaching 2,320 people, and the total declaration amount is 11.10 trillion Korean won. The number of crypto-asset account declarations accounted for 27% of the total number of declarations, and the declaration amount accounted for 12%.