Cheongju City in South Korea has established a virtual asset trading account to facilitate the sale of cryptocurrencies seized from tax defaulters. Since 2021, the city has confiscated virtual assets from 203 taxpayers with outstanding local taxes, but liquidation challenges have limited tax revenue recovery. The new account allows the city to directly sell these assets if taxpayers fail to settle their debts. Currently, 161 individuals owe approximately 1.5 billion won in local taxes. The city aims to prevent the use of virtual assets for tax evasion and will recommend taxpayers sell their assets to clear debts, with forced sales as a last resort.