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Seoul government seizes $22M worth of crypto from tax evaders

The City of Seoul becomes the first city in South Korea to confiscate cryptocurrencies owned by tax delinquents. The city government of South Korea’s capital Seoul has announced the seizure of cryptocurrencies worth 25 billion won ($22 million) from individuals and company heads. According to a report by The Korea Times, the confiscated crypto came from people identified as tax delinquents by the city’s tax collection agency. As part of the investigation, the Seoul office of the National Tax Service identified 1,566 individuals and company heads with overdue taxes. The NTS office in Seoul then proceeded to seize $22 million…

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