[Cheongju, South Korea Opens Virtual Asset Accounts to Sell Seized Cryptocurrency from Tax Evaders] According to Yonhap News Agency, the city of Cheongju in South Korea has opened virtual asset trading accounts under the name of the local government, allowing taxpayers who owe local taxes to directly sell their virtual assets. Since 2021, the city has seized virtual assets from 203 taxpayers who were delinquent on local taxes through measures such as suspending transactions. However, due to a lack of liquidation methods, tax revenue has been limited. To address this, the city has opened virtual asset trading accounts under the name of the local government. If taxpayers who owe taxes fail to make payments, the seized virtual assets will be transferred to the city government’s account and sold directly. However, due to the significant price volatility of virtual assets, the city government will recommend that delinquent taxpayers sell their virtual assets to pay their taxes and will initiate a forced sale process if necessary. The seized virtual assets in this case involve 161 individuals, with approximately 1.5 billion KRW in unpaid local taxes. A city government official stated: “We will make every effort to recover these assets and ensure that virtual assets no longer serve as a means of tax evasion.”