No Result
View All Result
Tuesday, June 17, 2025
MM News
اردو
  • Home
  • Latest News
  • National
  • Showbiz
    Kuberaa trailer

    Trailer of Dhanush, Nagarjuna, and Rashmika’s thriller ‘Kuberaa’ unveiled

    Traitors

    Karan Johar’s ‘Traitors’: Everything you need to know

    Rana Naidu Season 2

    Rana Naidu Season 2: Stream it or skip it?

    Ginny and Georgia

    Ginny and Georgia: Will there be a Season 4?

    Deemak

    Pakistani horror ‘Deemak’: Hit or flop?

    Samra Batool

    Bhakkar tragedy: TikToker Samra Batool shot dead in her home

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
MM News
  • Home
  • Latest News
  • National
  • Showbiz
    Kuberaa trailer

    Trailer of Dhanush, Nagarjuna, and Rashmika’s thriller ‘Kuberaa’ unveiled

    Traitors

    Karan Johar’s ‘Traitors’: Everything you need to know

    Rana Naidu Season 2

    Rana Naidu Season 2: Stream it or skip it?

    Ginny and Georgia

    Ginny and Georgia: Will there be a Season 4?

    Deemak

    Pakistani horror ‘Deemak’: Hit or flop?

    Samra Batool

    Bhakkar tragedy: TikToker Samra Batool shot dead in her home

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
No Result
View All Result
No Result
View All Result
MM News
اردو
  • Latest
  • Showbiz
  • Thought Box
  • Business & Stock
  • Opinions
  • Technology
  • The Other Side-Pakistan
Home Uncategorized

South Korea seizes $183 million worth of crypto from tax evaders

Reuters by Reuters
September 25, 2022

South Korean law enforcement officers have reportedly confiscated around 260 billion won ($183 million) worth of cryptocurrencies from local individuals and businesses in two years as they were not abiding by local taxation laws.

Not long ago, the authorities targeted the notorious leader of Terraform Labs – Do Kwon. He was accused of gifting tokens to family members as a way of tax avoidance.

According to a report by the domestic media outlet Yonhap News Agency, the South Korean authorities confiscated more than $183 million in digital currencies since the beginning of 2021. The seizure covered 17 cities, including the capital Seoul and targeted people and enterprises, neglecting taxation rules.

The most populous province in the nation – Gyeonggi – saw the highest amount of confiscated cryptocurrencies with over $37 million. The largest cities in the region – Seoul, and Incheon – had respectively around $12 million and $3.5 million in digital assets seized. Other major towns, such as Daejeon, Chungnam, and Jeonbuk, were also part of the officials’ operation.

Read more: US bitcoin emissions as dirty as 6 million cars: report

On an individual basis, law enforcement agents seized $8.5 million in crypto from a resident of Seoul who was not abiding by domestic tax requirements. The person’s portfolio consisted of 20 digital currencies as Bitcoin (BTC) and Ripple (XRP) formed most of his stash.

After the seizure, the unidentified individual paid his tax arrears and requested his holdings to be transferred back to him.

Although crypto tax rules in South Korea are still unclear, in 2020, the local authorities started seizing digital assets from people and businesses who were not reporting their transactions to the relevant institutions.

ShareTweetSendShare
Previous Post

Pakistan set 167 run target for England in 4th T20

Next Post

Dubai port operator to set up industrial park in Pakistan to attract global investors

Related Stories

File photo
Uncategorized

Israel furious as France shuts weapons stands at Paris Airshow

June 16, 2025
File photo
Uncategorized

US warship USS Nimitz rushes to Middle East as Iran-Israel war heats up

June 16, 2025
File photo
Uncategorized

Pakistan ‘shuts’ its border with Iran

June 16, 2025
MM News photo
Uncategorized

Senior politician Mahmood Moulvi meets Maulana Fazlur Rehman

June 14, 2025
Khawaja Asif
Uncategorized

Khawaja Asif urges Muslim countries to sever ties with Israel

June 16, 2025
File photo
Uncategorized

Pakistani, Afghan forces exchange fire near Bajaur border

June 14, 2025
File photo
Uncategorized

Sindh announces 4,400 jobs for schools

June 13, 2025
Muslims performing prayers on road in India. File photo
Uncategorized

Islam becomes fastest growing religion in the world: US report

June 13, 2025
File photo
Uncategorized

Pakistan activates crisis management unit following Israeli strikes on Iran

June 13, 2025
File photo
Uncategorized

IRGC says will respond to Israeli attacks at the proper time and place

June 13, 2025
Next Post

Dubai port operator to set up industrial park in Pakistan to attract global investors

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trending Stories

File photo
Crime

Man kills sister, niece in Okara over ‘honor’

by MM News Staff
June 16, 2025
File photo
Sports

ICC Women’s World Cup 2025: Pakistan to play all matches in Colombo, not in India

by MM News Staff
June 16, 2025
File photo
Business & Stock

Balochistan to present Rs1 trillion budget tomorrow

by MM News Staff
June 16, 2025
Screen grab
Top News

Iranian state TV hit by Israeli strike during live broadcast

by MM News Staff
June 16, 2025
File photo
Uncategorized

Israel furious as France shuts weapons stands at Paris Airshow

by MM News Staff
June 16, 2025

Opinion

munir ahmed oped
A Strategic Leap, Not Just A Flight
June 16, 2025
- Munir Ahmed
munir ahmed oped
Russia Day 2025
June 15, 2025
- Munir Ahmed
munir ahmed oped
The Israel-U.S. nexus for State Terrorism
June 14, 2025
- Munir Ahmed
No posts found
See all

Weather Updates

Weather Rain in Karachi
Top News

Showers Begin: Is Karachi set for more rainfall in the coming days?

by MM News Staff
June 16, 2025

Light rain and drizzle in various areas of Karachi on Sunday made the weather...

Rains

Met office forecasts rainfall with thunderstorms in Karachi tomorrow

June 15, 2025
Image: ET

Most parts of Pakistan to remain hot and dry today: PMD

June 15, 2025
file photo

Karachi to receive light rain on June 16, predicts PMD

June 14, 2025
See all

Prices

(File)
Business & Stock

Gold price drops Rs700 per tola

by MM News Staff
June 16, 2025

Gold prices in Pakistan decreased on Monday, mirroring the international market as the price...

File Photo

Peshawar BRT fares increased by Rs10

June 16, 2025
file photo

Oil prices rise further in global market amid Iran-Israel conflict

June 16, 2025
representative image

Gold prices further surge in international market

June 16, 2025
See all

Transport News

File photo of Indian plane crash
Thought Box

Does the Boeing 787 Dreamliner have technical issues?

by MM News Staff
June 16, 2025

The Air India aircraft that crashed in Ahmedabad shortly after takeoff was identified as...

A Muslim man uses a mobile phone during Umrah, at the Grand Mosque, while construction cranes are seen in the background, in the holy city of Mecca, Saudi Arabia, December 18, 2023. (Reuters)

Hotel booking via Nusuk Masar made mandatory for Umrah visa

June 16, 2025
File Photo

Peshawar BRT fares increased by Rs10

June 16, 2025
file photo

Driverless taxis to hit Dubai roads this year

June 15, 2025
See all

MM Digital (Pvt.) Ltd.

MM News is a subsidiary of the MM Group of Companies. It was established in 2019 with the aim of providing people of Pakistan access to unbiased information. Contact Details: 03200201537

Quick Links

  • Home
  • Advertise
  • MM News Urdu
  • The Other Side-Pakistan
  • Contact Us
  • Privacy Policy

Top Pages

  • Latest News
  • Showbiz
  • OP-ED
  • Technology
No Result
View All Result
  • Latest News
  • Showbiz
  • Thought Box
  • Business
  • Opinions
  • Technology

© Copyright 2024 MMNews - All Rights Reserved.