South Korea
Block Media
An Do-geol: Tax Audits Inadequate Against Crypto Arbitrage, Mixing; NTS Chief Vows Dedicated Unit, Stronger Tracking
- Rep. An Do-geol (Democratic Party) said existing tax audit methods are insufficient to catch crypto-based tax evasion using kimchi-premium arbitrage, mixing, and split transactions.
- NTS Commissioner Lim Gwang-hyun announced plans to set up a new Virtual Asset Management Division to manage digital asset tax sources.
- The NTS is also considering introducing a program to track cross-border (overseas) crypto transactions to strengthen enforcement.