South Korea Weighs Education Tax That Could Cost Upbit Operator 10.2 Billion Won

South Korea’s government is considering an education tax for crypto exchanges if they are reclassified as financial companies after passage of the Digital Asset Basic Act. Dunamu, the operator of Upbit, could face an estimated annual bill of 10.2 billion won under the proposal. Bithumb’s estimated annual tax burden is 3.2 billion won. The estimates apply current financial-sector tax rates to the companies’ 2025 revenue. The tax is calculated on operating revenue rather than profit, meaning an exchange could owe it even in a loss-making year. The proposal remains under consideration.

Source: TokenPost