South Korean Province Seizes Crypto Worth $890,000 from Tax Dodgers
Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...
A South Korean province has seized cryptoassets worth $890,000 from the crypto wallets of residents who have failed to pay local taxes.
Per Daekyung Ilbo, North Gyeongsang Province has set itself a target of collecting local tax arrears worth around $136 million before the end of the year.
According to its latest updates, the province had collected over $35 million worth of that total at the end of August this year.
And crypto-holding tax evaders will be bracing themselves for more scrutiny. The media outlet reported that the province and “22” of its biggest “cities and counties” will now begin “two months of intensive settlement recovery efforts.”
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