Jeju City Targets Crypto Assets in Tax Evasion Crackdown
Monday, 18 August 2025, 13:14
Jeju's Efforts Against Tax Evasion
Jeju City, South Korea, is intensifying its efforts against tax evasion by specifically targeting crypto assets. Recent investigations have led to the seizure of more than $166,000 from 49 individuals suspected of trying to evade their tax responsibilities through cryptocurrency. This proactive approach signifies a growing trend among local governments to align cryptocurrency activities with tax regulations.
Why Focus on Cryptocurrency?
- Cryptocurrencies have become popular among tax evaders.
- Increased regulatory scrutiny is necessary to ensure compliance.
- Actions like these can potentially deter future tax evasion attempts.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.