Korea Tax Chief Says Tracking Between Personal Crypto Wallets Has Limits, Cites Gaps in Tax Readiness

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National Tax Service Commissioner Lim Kwang-hyun said there are practical difficulties in identifying transactions between personal crypto wallets and that institutional fixes will take time.

Lim made the remarks on Oct. 13 during a parliamentary audit by the National Assembly's Strategy and Finance Committee at the government complex in Sejong, responding to a question from People Power Party lawmaker Park Soo-young about preparations for crypto taxation. He said transactions that are difficult for tax authorities to verify, such as transfers between personal wallets, are a common issue even in countries that already tax virtual assets.