Korea National Tax Service: If tax debts are not resolved, officials may seize cold wallets during home searches

Jinse Finance reported that the Korean National Tax Service has warned cryptocurrency holders: if tax debts are not resolved, officials may confiscate cold wallets during home searches. The NTS stated that it can use blockchain analysis tools to track on-chain activities, and when it suspects that funds are being hidden offline, it will inspect residences and seize hard drives, cold wallets, or personal computers. This move is part of a long-standing crackdown on cryptocurrency tax evasion at local exchanges, and the scope of enforcement is currently expanding to include citizens who owe utility bills and traffic fines.