South Korean City Cheongju to Confiscate Crypto from Delinquent Taxpayers in Latest Move

Cheongju, a prominent city in South Korea, has announced its intentions to seize cryptocurrencies held by residents who have fallen behind on their tax payments. This move is the latest effort to combat tax evasion in the country as it undergoes rapid digitization. This approach is not entirely new for Cheongju. The citys administration has reached out to seven major cryptocurrency exchanges in South Korea, including platforms like Upbit and Bithumb. They have requested information about 8,520 users who reportedly owe outstanding taxes exceeding 1 million won (approximately $750). If these...

source: https://tokenpost.com/South-Korean-City-Cheongju-to-Confiscate-Crypto-from-Delinquent-Taxpayers-in-Latest-Move-10556

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