- National Tax Service wants private sector firms to build a monitoring system.
- Seoul wants platform to go live in December.
- State will begin taxing crypto traders in 2027.
South Korean tax authorities are turning to tech companies to help them monitor wallets as the country gears up to introduce taxes on crypto trading.
The National Tax Service, or NTS, has asked tech firms to bid for a contract to create a new crypto wallet and transaction monitoring system, South Korean media outlet Hans Kyungjae reported.
Crypto trading is currently untaxed in South Korea. But that’s about to change. While the issue of crypto taxation has become a political hot potato in recent years, a law requiring residents to pay 20% income tax and 2% on their gains…
