South Koreans reported approximately 131 trillion won (around $99 billion) in overseas crypto assets, including Bitcoin (BTC), for this year, according to the country’s tax agency.

According to the document, 1,432 individuals and entities possessed cryptocurrency holdings valued at over $99 billion overseas. This amount constitutes 70% of the total offshore assets reported by individuals and businesses in South Korea.

The tax agency revealed that a total of 5,419 entities disclosed overseas assets amounting to 186.4 trillion won or approximately $140 billion. While cryptocurrency holdings dominated these assets, South Koreans held substantial stocks, deposits, and savings.

Earlier in the year, the tax regulatory authority unveiled plans to intensify scrutiny on individuals who fail to …