South Korea Intensifies Crypto Regulation, Targets Cold Wallets for Tax Compliance

South Korea's tax agency is intensifying its crackdown on unpaid taxes by targeting cryptocurrency cold wallets. The National Tax Service plans to confiscate these wallets from individuals who fail to pay their taxes, signaling a strict regulatory approach. This move raises concerns about the implications for crypto ownership and could deter investment in the market, as the government emphasizes compliance and the importance of tax obligations.