South Korea's Tax Agency to Enhance Cryptocurrency Tracking for Tax Evasion Detection

South Korea's National Tax Service is set to bolster its efforts in analyzing cryptocurrency transaction histories linked to suspected tax evasion. According to NS3.AI, the agency has announced a bid on the Public Procurement Service platform to acquire virtual asset tracking software licenses from Chainalysis and TRM Labs. These tools are expected to assist the agency in identifying the use of mixers and tracing non-custodial wallets, thereby enhancing its capability to detect and address potential tax evasion activities.