South Korea's tax agency to track non-custodial wallets for evasion

South Korea's National Tax Service (NTS) plans to conduct detailed analyses of cryptocurrency transaction histories for suspected tax evaders, ZDNet Korea reported. The agency will use its findings to take legal action against any illegal activities discovered, such as undeclared gifts. According to a bid announcement on the country's Public Procurement Service platform, the NTS is seeking to acquire software licenses for virtual asset transaction tracking. The solutions the agency aims to implement are analysis platforms from Chainalysis and TRM Labs. This technology will reportedly enable the NTS to identify "mixer" techniques used in money laundering and track non-custodial wallets where users directly control their own private keys.