South Korea has just passed new laws to tighten control over the transfer of crypto abroad, while also preparing to expand transaction oversight and tax crypto starting in 2027. 🔸 The South Korean National Assembly has approved amendments to the Foreign Exchange Transaction Act, requiring businesses transferring crypto to/from overseas to register with the Ministry of Economy and Finance. 🔸 The Financial Services Commission (FSC) recently announced it will expand the requirement to collect information on senders and receivers to all crypto transactions, instead of only applying it to transactions over 1 million won (~$681 USD) as currently. 🔸 In addition, the South Korean tax authorities confirmed that they will begin applying a 22% tax on crypto profits exceeding 2.5 million won (~$1,703 USD) from January 2027. This tax plan has been delayed several times due to controversies surrounding the legal system and regulatory infrastructure for crypto in South Korea.