Posted 3/11/2024, 10:36:46 AM
South Korea Unveils New Crypto Tracking System to Combat Anonymity and Tax Evasion
- South Korea is creating a new system to track crypto transactions and combat tax evasion
- This comes amid heightened interest and investment in crypto assets like Bitcoin reaching new highs
- The system aims to tackle anonymity and decentralization that has enabled illegal crypto activities
- South Korea has already had some success recouping crypto tax payments with a similar system
- Crypto regulation globally is increasing, with new laws in the EU, US, and aligned with FATF recommendations
