Data: South Korea has confiscated $106 million in Crypto Assets from tax delinquents since 2021.

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[Data: South Korea has seized $106 million in crypto assets from tax evaders since 2021] Since 2021, South Korean tax authorities have confiscated over 140 billion won ($106 million) in virtual assets, including Bitcoin and Ethereum, highlighting the government's broader use of digital assets to enforce compliance. The National Tax Service (NTS) of South Korea began seizing cryptocurrencies from individuals claiming to have no cash or property to pay overdue debts (such as Capital Gains Tax and inheritance tax) in 2021. According to data submitted to Democratic Congressman Kim Young-jin on September 21, a total of 14,140 people's assets were confiscated from 2021 to 2024. The reason these seizures are possible is based on a Supreme Court ruling from 2018, which recognized virtual assets as intangible property, similar to stocks or copyrights, and therefore can be confiscated.

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