South Korea's National Tax Service has initiated a tender for the procurement of cryptocurrency transaction tracking software, with a budget of approximately 146.5 million won ($99,500). The software aims to enhance the monitoring of tax evasion related to virtual assets. It is designed to support real-time monitoring of on-chain transactions, visualize fund flows between addresses and exchanges, and assist in investigating concealed assets, cross-border tax evasion, and undeclared gifts. This move is part of South Korea's efforts to strengthen regulatory capabilities ahead of the implementation of crypto taxes in 2027.
South Korea Launches Bid for Crypto Transaction Tracking Software
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