Cheongju, South Korea, has opened virtual asset trading accounts under the local government's name to manage seized cryptocurrency from delinquent taxpayers. Since 2021, the city has confiscated crypto assets from 203 taxpayers, but lacked a mechanism to liquidate them, affecting tax collection. The new measure allows the city to transfer seized assets directly to government accounts for sale or suggest taxpayers liquidate assets themselves to pay taxes. If necessary, forced sales will be initiated. This initiative targets 161 individuals with approximately 1.5 billion won in unpaid taxes. The city aims to prevent cryptocurrencies from becoming a tax evasion tool.