South Korea Requires Overseas Crypto Exchange Accounts to Be Reported Even After Bankruptcy

South Korea’s National Tax Service said individuals with accounts at overseas virtual asset exchanges must still report those accounts as foreign financial accounts, even if the exchange goes bankrupt. According to Odaily, residents who open accounts with overseas virtual asset operators to trade digital assets are required to report them regardless of the operator’s bankruptcy status. The agency also said the value of digital assets included in overseas financial account reporting is expected to reach 10.5 trillion won in 2026, down 5.4% from 2025.