South Korean Cities Seize Cryptocurrencies from Tax Delinquents

April 29, 2021, 2:32 PM

Local South Korean authorities have begun seizing the cryptocurrency accounts of tax delinquents, following the lead of the nation’s capital city.

The Daejeon city government said Wednesday that it had seized crypto assets worth more than 219 million won ($190,000) from 39 delinquent taxpayers. The Daejon authorities said they had searched four major crypto exchanges for the virtual accounts of 14,550 delinquent taxpayers, finding 39 of them. Of those seized, 18 out of 39 people immediately paid 41 million won in arrears and were released.

  • On Tuesday, the government of Boryeong said it had seized 32 million won ...

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