Goyang City to directly sell seized crypto from tax delinquents

Goyang City will directly sell virtual assets seized from tax delinquents and use the proceeds for its budget, Edaily reported. The city announced on Nov. 26 that it has opened non-profit corporate accounts on South Korea's four major cryptocurrency exchanges: Upbit, Bithumb, Korbit, and Coinone. Through this initiative, the city will begin transferring seized virtual assets from delinquent taxpayers' accounts to its own for direct sale starting in December.