South Korea’s Tax-Chief Nominee Vows Crackdown on Crypto Tax Evasion

Lim Gwang-hyun, nominee for Commissioner of South Korea's National Tax Service, has pledged to intensify scrutiny of digital asset transactions to combat tax evasion. During his confirmation hearing, Lim emphasized the need for stricter enforcement of crypto tax regulations and announced plans to develop an AI-enhanced monitoring system for VIRTUAL asset transactions.

The proposed system WOULD collect transaction histories and leverage artificial intelligence to identify potential abuse patterns. This move aligns with global efforts like the OECD's Crypto-Asset Reporting Framework, though regulatory consistency across jurisdictions remains uneven.

"We will respond resolutely to stock price manipulation, irregular capital transactions, and illegal profiteering," Lim stated before the Planning and Finance Committee. The crackdown reflects growing institutional focus on cryptocurrency markets as they mature.