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South Korea’s Ministry of Economy and Finance said it has not exchanged official documents with South Korea’s Financial Services Commission since 2022 on taxation of crypto derivatives traded on overseas exchanges, KBS News reported.
The report came as a taxation gap involving profits from offshore crypto futures and options has emerged ahead of next year’s rollout of virtual asset taxes. According to materials lawmaker Kim Sang-hoon of the ruling People Power Party obtained from the ministry, the ministry said there was no record of official document exchanges with the FSC on taxation of virtual asset derivatives at overseas exchanges since 2022.