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The post Cheongju Authorities to Seize Cryptocurrency Assets of Tax Delinquent Citizens! appeared first on Coinpedia Fintech News
The city of Cheongju in South Korea is planning to seize the cryptocurrency holdings of local tax evaders. The authorities are calling in trading platforms such as Upbit and Bithumb to look into the crypto assets of around 8,500 users who owe at least KRW 1 million ($750) in local taxes. The move has been triggered by concerns that cryptocurrencies are being used to hide assets from the tax authorities. This latest campaign is aimed at holding South Korean citizens accountable for tax avoidance.
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