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South Korean city unveils solution to seize more tax dodgers’ crypto

Gwacheon is implementing an IT solution to enhance its capability to seize crypto assets from tax evaders. The initiative targets residents owed over 3 million won in local taxes, aiming to collect a total of approximately 12.8 million USD.

This solution follows five years of efforts during which the city seized about 300 million won (nearly 205,000 USD) from tax dodgers. The new system is expected to improve efficiency in securing local tax payments as crypto trading grows in popularity.

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