South Korea's Gangnam district has recovered about $245,000 in taxes since late last year
2025-08-13 02:20:58
According to Cryptonews, Seoul's Gangnam Ward is stepping up its tax enforcement actions against cryptocurrency holders. Since the end of last year, the district has recovered about 340 million won (about $245,000) in unpaid taxes by seizing cryptocurrencies. Gangnam Ward has worked with five major cryptocurrency exchanges in South Korea to seize cryptocurrencies such as bitcoin to recover unpaid taxes. District officials said that many residents own large amounts of virtual assets, and the voluntary payment rate of unpaid taxes has increased significantly after seizing these assets.
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