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South Korea’s Goyang City seizes crypto worth over 228,000 USD from traffic offenders

The South Korean city of Goyang has seized cryptoassets exceeding 228,000 USD from 157 residents who failed to settle unpaid traffic fines. This action is a part of increased enforcement of fines using cryptocurrency, aiming to ensure fair tax collection.

Local authorities collected data from major crypto exchanges to identify residents with chronic defaults on traffic fines. They emphasize that this initiative intends to encourage others to clear their outstanding dues.

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