The Korean National Tax Service is fully tracking cryptocurrency tax evasion, and non-custodial wallets are also within the monitoring scope.

Deep Tide TechFlow News: On April 21, according to a report by ZDNet Korea, the Korea National Tax Service published a tender notice on April 15. It plans to introduce cryptocurrency asset transaction-tracking software from organizations such as Chainalysis and TRM Labs to monitor cryptocurrency transaction records in real time, trace hidden assets of suspected tax evaders, and crack down on disguised inheritance, gifts, and offshore tax evasion conducted using cryptocurrency. The system can trace about 70 million types of crypto assets, including Bitcoin, Ethereum, XRP, and stablecoins, covering 45 blockchain layers. It also includes a “de-mixing” capability to identify money-laundering techniques involving “mixers,” and can perform a degree of identity recognition for non-custodial wallets such as MetaMask and Phantom. This is the third time the tax authority has introduced such solutions since 2024. System construction is planned to be completed in June, with official deployment starting in July.