The National Tax Service of South Korea will establish a comprehensive management system for virtual assets

ChainCatcher news, the National Tax Service of South Korea plans to build a comprehensive management system for virtual assets to prevent users from evading taxes using virtual assets and to achieve fair taxation.

At the end of February, the National Tax Service of South Korea selected GTIC as the leading company for the virtual asset comprehensive management system project and initiated a consultation period of about 4 months. The system aims to effectively analyze and manage the information collected from mandatory submissions of virtual asset transaction histories, and based on the consultation results, distribute recommendations for system construction, with plans to launch in 2025.