[South Korea's National Tax Service: Suspected Tax Evaders Hiding Crypto Assets Will Face Home Searches and Cold Wallet Seizures] According to Cointelegraph, South Korea's National Tax Service (NTS) is intensifying its crackdown on tax evasion, warning that crypto assets stored in cold wallets may also be subject to seizure. Officials stated that if tax evaders are suspected of hiding crypto assets offline, home searches will be conducted, and hard drives and cold wallet devices will be confiscated. Under the National Tax Collection Act, the NTS can request local exchanges to provide account information, freeze accounts, and liquidate assets to offset taxes. While cold wallets ensure the security of crypto assets, they can also be used to conceal assets, complicating tax collection efforts. As of June, the country had nearly 11 million cryptocurrency investors, an increase of nearly 800% compared to 2020. During the same period, trading volume surged from 1 trillion KRW (approximately $730 million) to 6.4 trillion KRW (approximately $4.7 billion). The growing popularity of cryptocurrencies has led to an increase in tax evasion cases. In 2021, the first enforcement action seized approximately $50 million in cryptocurrencies, and over the past four years, $108 million has been seized and liquidated.