The South Korean government has confiscated nearly 260 billion won (approximately $184 million) in crypto assets from South Korean citizens accused of tax evasion, according to Bitcoin.com, citing Yonhap News Agency, citing the South Korean Ministry of Economy and Finance, Security and Public Administration, Official figures provided by the National Tax Service of Korea, as well as 17 provincial and municipal authorities. Of the confiscated assets, more than 176 billion won in assets were confiscated due to non-payment of national taxes, and more than 84 billion won in cryptocurrencies were confiscated due to non-payment of local taxes. Nearly a third of all crypto assets were confiscated in the South Korean capital Seoul (17.8 billion won), Incheon (nearly 5.5 billion won) and Gyeonggi-do (over 53 billion won).
Bitcoinist