Search results for CARF
Crypto
People Power Party pushes to abolish digital asset income tax after scrapping financial investment tax
South Korea\'s People Power Party has formalised as party policy a push to abolish an income tax on digital asset investment gains and is moving to pursue related legislation. At a meeting in Seoul, lawmakers and representatives of major exchanges discussed scrapping the planned taxation from Jan. 1, 2027. Lawmakers cited double taxation concerns, unequal treatment versus stocks and limits in the National Tax Service’s capacity and information systems.
Crypto
Bitcoin breaks below 100 million won mark as Bithumb hit by mistaken transfer incident
Bitcoin fell sharply on Feb. 6 night to the $65,000 range, triggering selling across the crypto market and coinciding with weakness in U.S. stocks. On Upbit, bitcoin traded in the 90 million won range, below the 100 million won threshold. U.S. Treasury Secretary Scott Bessent dismissed the possibility of intervening in bitcoin markets. In Korea, Bithumb mistakenly deposited 2,000 bitcoin per person instead of 2,000 won and later announced full compensation measures and plans for a 100 billion won investor protection fund.
Crypto
Hong Kong finance industry seeks easing of OECD CARF rules
Hong Kong’s Securities and Futures Professionals Association has called on the government to ease reporting duties under the OECD’s Crypto Asset Reporting Framework and to strengthen personal data protections. The group said obligations should be reduced for firms with no reporting activity and records could be transferred to a regulated third party when a company closes. It also urged a cap on per-account fines and protections for companies, citing directors’ personal liability. Hong Kong plans its first CARF data exchange by 2028.
