The National Revenue Service will scrutinize tax evasion through virtual assets

According to the Korea Herald on August 3, South Korea's National Tax Service has pledged to strictly scrutinize tax evasion through virtual assets (including cryptocurrencies) and online platforms. Although cryptocurrency trading gains are not currently taxed, the virtual assets have been actively used for money laundering, and this new type of tax evasion is impeding market justice and tax fairness, the tax authority said.