According to the South Korean media reports, all the alleged unpaid tax in this country in two years (2021, 2022) reached 260 billion Korean won (approximately US$184.3 million)

The most significant percentage of 20 cryptocurrencies from alleged tax delinquents comes from Bitcoin and Ripple. Since 2020, the South Korean Tax Authorities have seized unpaid tax cryptocurrencies from the exchange. Since being held, if the tax bills are still delinquent, all assets will sold at the market time.

These figures and data are collected by Kim Sang-hoon from the finance ministry and other institutions. He is a lawmaker from South Korea’s right-wing People Power Party and also a representative of the National Assembly’s Strategy and Finance Committee.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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