• South Korea is considering an education tax on crypto exchanges if new legislation classifies them as financial businesses.
• Estimates suggest Dunamu could owe 10.2 billion won and Bithumb 3.2 billion won annually.
• The proposal could affect exchange fees as regulators reconsider tax rules and reporting requirements.

South Korea may tax crypto exchanges as financial firms, according to a report by Seoul Economic Daily.

The proposed Digital Asset Basic Act could reclassify exchanges currently treated as information and communications businesses.

Kim Kyung-ho, head of Deloitte Anjin’s digital asset centre, said intense fee competition among crypto exchanges could complicate tax calculations, depending on how much of the VAT exemption benefit…