Crypto accounts for 70% of South Korea’s overseas assets
The National Tax Service (NTS) of South Korea has revealed that 70% of the country’s overseas assets are in cryptocurrency. According to an official statement, the country holds $98 million worth of crypto abroad, as reported by nearly 1,400 individuals and corporations. The NTS said that out of the 186.4 trillion won ($140 million) in assets held by 5,419 entities in foreign financial accounts . The types of holdings included stocks, crypto, deposits, and savings. Of the reported funds, 130.8 trillion won ($98 million) were in crypto. You might also like: South Korean regulators focus on OTC crypto market South Korea’s crypto journey The relationship between South Korea and cryptocurrency has been challenging. The country has experienced ups and downs in its crypto market, with tightening government regulations threatening a potential shutdown at one point. The government’s presidential committee has called for robust crypto regulations to encourage...