South Korea dey expand crypto tax crackdown go cold wallets

South Korea National Tax Service (NTS) don dey increase dia crypto tax crackdown to include cold wallet dem, dem dey use better blockchain analysis plus special tracking software find and take offline storage device dem. For di past four years, NTS don confiscate plus liquidate ₩146.1 billion ($108 million) from 14,140 taxpayers, and since 2021, dem don recover $50 million from 5,741 high-income debtors. Even with all dis effort, about $55 billion don waka go offshore for di first half of 2025. Di number of Korean crypto investors don jump from 1.2 million to 10.77 million in five years, with daily trading volume dey average ₩6.4 trillion ($4.5 billion). Under the National Tax Collection Act, exchange dem dey freeze suspect account dem and transfer seized fund go NTS, while house search dey try find off-chain holdings. International cooperation don span 74 countries, but no include big market like US, China and Russia. Other similar cross-border wahala dey go like India wey dey action against 400 Binance traders. Traders suppose dey watch these regulation change because the heavy crypto tax crackdown fit tighten liquidity and change how dem dey trade.