☠️South Korea 🇰🇷: tax authority to begin tracking non-custodial wallets of crypto tax evaders this summer

☠️South Korea 🇰🇷: tax authority to begin tracking non-custodial wallets of crypto tax evaders this summer

South Korea’s National Tax Service (NTS) plans to purchase blockchain analytics software that would allow real-time monitoring of transactions and links between wallets and exchanges. The tender has already been announced.

🔸 The system will be used to identify hidden assets, undeclared income, and schemes for moving capital abroad.

🔸 Particular focus will also be placed on crypto mixers, automated services that combine multiple digital asset flows and obscure their origin.

🔸 Sanctions: if undeclared cryptoassets are discovered, individuals may face account freezes, restricting deposits and withdrawals.

🔸 Context:

🔹 During the second half of 2025, South Korean exchanges recorded asset outflows of 60 billion USD to foreign platforms and private wallets.

🔹 Major global exchanges such as Binance, Bybit, and OKX do not hold registration in South Korea because of the complexity of obtaining it. At the end of January, Google Play restricted the availability of foreign crypto service apps in the country, meaning they can no longer be downloaded or updated.

#news #Asia #crypto

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