Korea's National Tax Service: Due to the pump of encryption assets, the amount of overseas financial account declarations has risen by 46% compared to last year.

According to a report by Golden Finance, the South Korean National Tax Service announced on the 26th that a total of 6,858 people reported overseas financial accounts amounting to 94.5 trillion won this year. Compared to last year, the number of filers increased by 1,901 (an increase of 38.3%), and the reported amount increased by 29.6 trillion won (an increase of 45.6%). The National Tax Agency analyzed that the increase in the number of declarations this year is due to the rise in the value of cryptocurrency assets, which has led to an increase in the number of virtual asset declarations, while the declared amount for stock accounts has also shown growth. Since 2023, the number of individuals reporting cryptocurrency accounts, which have been included as declaration objects, has increased by 1,277 compared to last year, reaching a total of 2,320 individuals, with a total declared amount of 11.1 trillion Korean won. The number of declarations for virtual asset accounts accounts for 27% of the total number of declarations, and the declared amount accounts for 12%.