South Korea is taking a major step forward in global crypto oversight by signing onto the OECD’s Crypto-Asset Reporting Framework (CARF). The agreement, adopted by 48 countries including Japan, Germany, and the UK, will facilitate automatic exchange of international cryptocurrency transaction data. This move commences global data exchanges starting in 2027, with Korean exchanges like Upbit and Bithumb required to report foreign user activity to their respective tax authorities. In return, overseas exchanges will share Korean resident’s crypto transactions with the National Tax Service (NTS). South Korea’s commitment to CARF marks a significant step towards enhanced oversight of digital assets. 🇨🇰