The South Korean National Tax Agency has stipulated that bankruptcy accounts of overseas virtual asset exchanges still need to be declared

According to Digital Asset, the South Korean National Tax Agency has stipulated that even if an overseas virtual asset exchange goes bankrupt, individuals must still declare the account as an overseas financial account. The South Korean National Tax Agency stated that residents who open accounts with overseas virtual asset operators for digital asset trading must declare the account as an overseas financial account even if the operator goes bankrupt. It is expected that the scale of digital assets included in the scope of overseas financial account declaration in 2026 will reach KRW 10.5 trillion, a decrease of 5.4% from 2025.