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<ul class="news-points"> 
 <li>The South Korean National Tax Service has developed a virtual asset management system to combat tax evasion and ensure compliance.</li> 
 <li>Partnership with GTIC accelerates construction of ‘Virtual Asset Integrated Management System’ for transparent transactions.</li> 
 <li>Tightening regulations on virtual assets aligns with South Korea’s proactive approach.</li> 
</ul> 
South Korea’s National Tax Service is taking proactive <a href="https://www.ddaily.co.kr/page/view/2024030714280298830" target="_blank" rel="nofollow">steps</a> to tackle tax evasion in the realm of virtual assets. Bitcoin hit a new ATH of <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="nofollow">$70,000</a> over the last week and the virtual asset market is rapidly regaining attention. 
In response, the National Tax Service has started working on the development of a comprehensive virtual asset management system. This system aims to analyze and manage transaction data effectively, ensuring compliance and preventing tax evasion.&nbsp; 
Choosing GTIC as its partner, the National Tax Service has started to build the ‘Virtual Asset Integrated Management System.’ This system will facilitate the collection and analysis of virtual asset transaction information, laying the groundwork for fair taxation and enhanced oversight. 
The National Tax Service is showing such urgency because of an al…
The post <a href="https://coinedition.com/gtic-partnership-advances-south-koreas-virtual-asset-oversight-initiative/">GTIC Partnership Advances South Korea’s Virtual Asset Oversight Initiative</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

GTIC Partnership Advances South Korea’s Virtual Asset Oversight Initiative

Coin Edition

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