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Crypto

France steps up cooperation on crypto taxation, data privacy remains a challenge

France\'s Senate adopted a bill to allow automatic exchange of cryptocurrency transaction tax information with foreign tax authorities. The measure, based on the OECD\'s Crypto-Asset Reporting Framework, also covers amendments to existing financial account information exchange rules. France has introduced crypto reporting obligations under its 2025 finance law reflecting the EU\'s DAC8. Wider data sharing has raised security concerns, with critics warning that centralised EU storage could heighten exposure risks.

Crypto

Ruling party also pushes to delay digital asset income tax, plan for 2029 implementation

South Korea\'s ruling party is moving to delay digital asset income taxation scheduled for January next year to effectively 2029. Democratic Party lawmaker Park Min-kyu plans to propose an amendment to the income tax law tying the start date to two years after the first international exchange of digital asset transaction information under the OECD\'s CARF. The bill cites insufficient data, infrastructure and fairness issues between domestic and overseas exchange users. The government is continuing preparations under current law.

Crypto

Need domestic exchange incentives, auto-reporting before digital asset taxation begins

South Korea should prepare incentives to encourage use of domestic digital asset exchanges and build an automated calculation and reporting system linked to exchanges before digital asset income taxation begins in January, a report said. Areas such as overseas exchanges, private wallets and over-the-counter trading remain hard for tax authorities to track, it said. The National Assembly Budget Office also called for clearer taxation standards by transaction type and measures to encourage voluntary reporting.