Cheongju Implements Virtual Asset Sales for Tax Recovery

According to BlockBeats, Cheongju, a city in South Korea, has established virtual asset trading accounts under the local government's name to facilitate the sale of virtual assets by taxpayers who owe local taxes. Since 2021, the city has seized virtual assets from 203 taxpayers who have defaulted on their local tax payments. However, the lack of mechanisms to liquidate these assets has limited tax revenue collection. To address this issue, Cheongju has opened virtual asset trading accounts to enable the direct sale of seized assets source: https://www.binance.com/en/square/post/29929991979690?utm_source=BinanceNewsRSS