Seized Crypto: Cheongju City’s Bold Move to Recover Unpaid Taxes

South Korean City Launches Crypto Account to Recover Unpaid Taxes

Cheongju City in South Korea has introduced a new way to recover unpaid local taxes. The city government has opened its own virtual asset trading account. This allows it to handle and sell seized crypto assets from tax delinquents. This step comes after years of difficulty in converting seized digital assets into cash. Since 2021, Cheongju has seized crypto from 203 taxpayers who failed to pay local taxes. But these assets were stuck because the…

Seized Crypto: Cheongju City's Bold Move To Recover Unpaid Taxes

BitcoinWorld Seized Crypto: Cheongju City’s Bold Move to Recover Unpaid Taxes In an unprecedented move that is capturing the attention of governments worldwide, Cheongju City in South Korea has taken a decisive step to tackle tax delinquency. The city has announced a groundbreaking initiative to directly sell seized crypto assets from individuals who have failed to pay their local taxes. This proactive approach marks a significant evolution in h…

Seized Crypto: Cheongju City’s Bold Move to Recover Unpaid Taxes

BitcoinWorld Seized Crypto: Cheongju City’s Bold Move to Recover Unpaid Taxes In an unprecedented move that is capturing the attention of governments worldwide, Cheongju City in South Korea has taken a decisive step to tackle tax delinquency. The city has announced a groundbreaking initiative to dir...