South Korea Combats Crypto Crime with AI-Powered Tax System and Stablecoin Crackdown

South Korea's government is taking a multi-pronged approach to combat cryptocurrency-linked financial crime.

The National Tax Service (NTS) has launched the Virtual Asset Integrated Analysis System Construction Project with a budget of approximately 2.99 billion won. The system will collect and analyze information on virtual asset transactions, including blockchain data, and connect it with tax filings, investigation data, and external blockchain information.

The AI-based platform is designed to detect abnormal transaction patterns and identify suspicious activity. It will also provide visualization tools to help investigators track fund movements and follow money laundering paths more clearly.