South Korea Seizes Crypto Assets From Suspected Tax Evaders

Sept. 15, 2021, 2:02 PM

Tax authorities in South Korea’s most populous province have seized more than 6.1 billion won ($5.2 million) from the cryptocurrency accounts of more than 1,600 tax “delinquents”.

The government of Gyeonggi province, which encircles Seoul and is the headquarters of the nation’s biggest companies, said Wednesday that nearly 30,000 companies and taxpayers were under investigation.

  • The authorities claimed that it was the nation’s largest seizure of cryptocurrency for non-tax revenue delinquents.
  • The provincial government also seized more than 53 billion won worth of crypto assets in June, following the lead of the capital city and many regional governments. ...

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