South Korea's National Tax Service (NTS) is intensifying efforts to combat tax evasion involving cryptocurrencies, with plans to conduct home searches and seize cold wallet devices from suspected evaders. The NTS has the authority to request account information from local exchanges, freeze accounts, and liquidate assets to recover unpaid taxes. This move comes as the number of cryptocurrency investors in South Korea has surged to nearly 11 million, marking an 800% increase since 2020. The crackdown is part of a broader strategy to address the growing issue of tax evasion linked to the rising popularity of cryptocurrencies. In 2021, the NTS seized approximately $50 million in cryptocurrency, contributing to a total of $108 million seized and liquidated over the past four years. The increase in trading volume, which has grown from 1 trillion won to 6.4 trillion won, underscores the challenge of ensuring compliance with tax regulations in the rapidly expanding crypto market.