South Korea intensifies its enforcement on crypto asset seizures, focusing on cold wallets.

[South Korea increases the crackdown on cryptocurrency seizures, focusing on cold wallets] The National Tax Service (NTS) of South Korea is expanding its efforts to combat tax evasion and has warned that even crypto assets stored in cold wallets will be subject to seizure. According to the Korea Daily, officials from the National Tax Service stated that if they suspect tax evaders are hiding crypto assets offline, the agency is prepared to conduct residential searches and confiscate hard drives and cold wallet devices. According to the country's National Tax Collection Law, the National Taxation Bureau can request account information from local exchanges, freeze the accounts of tax delinquents, and liquidate their assets at market value to cover their unpaid taxes.