South Korean gov has confiscated 260B KWR in crypto for non-payment of taxes ...

South Korean gov has confiscated 260B KWR in crypto for non-payment of taxes ...

The country began seizing crypto to offset tax arrears last year. According to local news outlet mk.co.kr, the South Korean government has seized over 260 billion Korean won ($180 million) worth of cryptocurrencies in the past two years due to tax arrears. The country's politicians enacted regulations allowing for the seizure of digital currencies for tax delinquencies and began enforcing them last year.One individual living in Seoul, dubbed "Person A," had 1.43 billion won worth of tax arrears and had his cryptocurrency exchange account seized by authorities. The account contained 12.49....


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