South Korea to Tax Virtual Asset Gains from Personal Wallets and Overseas Exchanges

South Korea's decision to extend its crypto tax net to self-custodied and offshore-held assets marks a notable shift from exchange-centric enforcement toward activity-based reporting, where the compliance burden lands on individual holders rather than platforms. That distinction matters for jurisdictions watching how far tax authorities can reach beyond locally licensed intermediaries. The practical question is whether self-reporting of wallet and overseas exchange gains proves workable, given the verification challenges that have stalled similar efforts elsewhere. How enforcement mechanisms develop, and whether other markets follow this template, is worth watching.