Jeju City Dey Seize Crypto Use AI to Clear ₩19.7B Tax Debt
Jeju City tax people don freeze and seize crypto assets wey worth pass US$166,000 from 49 people wey dem talk say no pay tax for one law wey dem pass for 2021. Dem investigators check 2,962 unpaid tax tins wey total ₩19.7 billion (like US$14.2 million), and dem use AI analyse transaction data from big exchanges like Bithumb, Upbit, Coinone and Korbit. Dem name these platforms third-party debtor make dem fit sell hidden virtual assets and pay outstanding tax. This crypto seizure na follow nationwide tins wey dem don catch over US$180 million digital assets since 2021, including latest for Paju and Seoul. Jeju wey dem sabi for blockchain projects like NFT tourist cards and COVID-19 tracking app say dem go improve virtual asset watch to make sure people pay tax and collect revenue well well.
Bearish
Di tori say wey Jeju City seize crypto yarn di plenty regulatory moni wey dey South Korea an e fit make traders dem dey fear. For short time, di exchanges we dem come choose fit get more compliance check, we fit make di main cryptocurrencies dem dey sell more. For long term, even though stricter oversight fit make di market better, di first thing wey go happen na bad, e mean say holders an traders face more risk.