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Korean Province Seizes $5.14 Million in Cryptocurrencies From 1,661 Investors for Unpaid Fines
Summary: The South Korean province of Gyeonggi, the most populous province in the country, announced that it had seized 6.1 billion won ($5.14 million) in cryptocurrencies from 1,661 investors who were more than $12 million in arrears on their fines in total. The authorities explained that from May to August last year, they conducted an investigation ...
The South Korean province of Gyeonggi, the most populous province in the country, announced that it had seized 6.1 billion won ($5.14 million) in cryptocurrencies from 1,661 investors who were more than $12 million in arrears on their fines in total.
The authorities explained that from May to August last year, they conducted an investigation of 29,656 companies and individuals who were delinquent on their payments of 1 million won or more under the category of “nontaxable income.” This includes examining their cryptocurrency holdings at four exchanges.
By Amy Liu
Tags: Cryptocurrency,Korean
Link: Korean Province Seizes $5.14 Million in Cryptocurrencies From 1,661 Investors for Unpaid Fines [Copy]
