South Korea tax chief cites limits in tracking private crypto wallet trades

South Korea’s tax commissioner said some cryptocurrency transactions, including private wallet-to-wallet transfers, are difficult to track for taxation and described the issue as one that will need to be resolved over time. According to Digital Asset, National Tax Service Commissioner Lim Kwang-hyun made the remarks during a parliamentary audit at the government complex in Sejong on Oct. 13, after People Power Party lawmaker Park Soo-young asked about preparations for digital asset taxation. Lim said other countries already taxing digital assets also face similar difficulties in detecting some peer-to-peer wallet transactions.