South Koreans Stash ₩130.8 Trillion in Overseas Crypto Holdings: A Deep Dive
South Korea's National Tax Service (NTS) recently revealed a significant trend: Rich Korean individuals and companies are increasingly holding substantial cryptocurrency assets offshore. A report released on September 20th, 2025, highlights that South Korean taxpayers have declared overseas cryptocurrency assets worth a staggering ₩130.8 trillion, equivalent to approximately $98 billion USD (using an exchange rate of US$1=₩1,330).
Record-Breaking Crypto Holdings Abroad
This marks the first time the size of South Korean-held overseas cryptocurrency has been quantified. The NTS reported that 1,432 overseas cryptocurrency accounts were declared in 2025. This surge in declared assets follows the introduction of new reporting requirements designed to increase transparency and combat tax evasion.
Bitcoin and Beyond: What Cryptocurrencies are Koreans Holding?
While specific details on the composition of these holdings are still emerging, the report confirms that South Korean individuals and corporations have reported overseas cryptocurrency assets including Bitcoin (BTC). The report reveals that cryptocurrencies now make up the majority of the nation’s overseas assets, signifying a major shift in investment preferences.
The National Tax Service's Role
The National Tax Service (NTS) of South Korea has been actively monitoring overseas cryptocurrency holdings to ensure compliance with tax regulations. The declared ₩130.8 trillion ($98.5 billion) represents a significant figure and highlights the importance of these enforcement efforts.
Looking Ahead
The trend of South Koreans holding substantial cryptocurrency assets offshore is likely to continue. The NTS will continue to monitor these holdings and enforce tax regulations. Keep checking back for further analysis on the long-term implications of this growing trend. South Korean taxpayers have declared a staggering ₩131 trillion (over $98 billion) in cryptocurrencies held in overseas accounts in 2025, following new reporting.