[Customs Service FAQ] Can it be a problem if payment is received as virtual assets such as Bitcoin or Ethereum after a trade transaction? Released

Regarding the act of paying and receiving trade payments with virtual assets, the Korea Customs Service's guidance is as follows.

According to Article 16, Paragraph 4 of the Foreign Exchange Transactions Act and Article 5-11, Paragraph 3 of the Foreign Exchange Transactions Regulations, when a resident makes or receives payments without going through a foreign exchange bank (including cases where claims and debts with non-residents are settled through the provision of goods or services, transfer of rights, etc.), a report on the method of payment, etc., must be made to the Governor of the Bank of Korea.