South Korea's National Tax Agency has warned cryptocurrency holders that if they do not resolve their tax debts, officials could confiscate cold wallets during home searches.
NTS says it can use blockchain analytics tools to track on-chain activity, and when it suspects currency is hidden offline, it inspects homes and confiscates hard drives, cold wallets, or personal computers.
The move is a long-standing move to crack down on cryptocurrency tax evasion on local exchanges, and the scope of enforcement is currently being expanded to cover citizens who default on utility bills and traffic fines.
Korea's National Revenue Service: If tax debts are not addressed, officials may confiscate cold wallets during home searches
2025-10-11 23:59:43
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