[South Korea National Tax Service: Personal Accounts Must Be Declared as Overseas Financial Accounts Even if Foreign Virtual Asset Exchanges Go Bankrupt] According to a report by Digital Asset, the South Korea National Tax Service (NTS) has issued a regulation stating that even if foreign virtual asset (digital asset) exchanges go bankrupt, individuals holding accounts with such exchanges must still declare those accounts as overseas financial accounts. On the 28th of last month, the NTS stated: 'Residents who open accounts with foreign virtual asset operators for digital asset transactions must declare those accounts as overseas financial accounts, even if the operators go bankrupt.' Additionally, it is estimated that the scale of digital assets subject to overseas financial account reporting in 2026 will reach 10.5 trillion KRW, a 5.4% decrease compared to 2025.