The Korean National Tax Service plans to strengthen the tracking of encryption assets to promote transparency in the Virtual Money market.

[Coin World] On July 15 (UTC+8), the candidate for the head of the National Tax Service of South Korea, Lim Kwang-hyun, stated in his written response to the National Assembly personnel hearing that he will promote a more regulated and transparent virtual asset market by strengthening the infrastructure for tracking and taxing encryption assets. He pointed out that the National Tax Service has introduced an encryption transaction tracking program and plans to expand transaction data collection, build a comprehensive analysis system, and work closely with the Financial Intelligence Unit (FIU) to actively grasp information on the domestic and international crypto market. Lim Kwang-hyun emphasized that this will help establish a sound encryption regulatory system and support the industry's development in a sustainable and transparent environment.