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South Korea May Begin Taxing Tokenized Stocks This Year
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
South Korea’s tax authorities said tokenized stocks could be taxed as early as the second half of this year if the Financial Services Commission (FSC) formally classifies them as securities in July. The Ministry of Economy and Finance said tokenized stocks are viewed as securities under the Capital Markets Act, making them subject to existing taxes, including on overseas transactions. The decision could affect a fast-growing market worth $1.47 billion, up 115% this year. Authorities are also preparing cross-border data-sharing systems to track transactions.
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