The post Revolutionary Cryptocurrency Sales Initiative Transforms Tax Collection In Goyang City appeared on BitcoinEthereumNews.com.

Imagine your local government selling cryptocurrency directly from tax delinquents’ accounts to fund public services. That’s exactly what’s happening in Goyang City, South Korea, as municipal authorities launch a groundbreaking cryptocurrency sales program that could reshape how cities handle digital asset enforcement. How do cryptocurrency sales work for tax collection? Goyang City has taken a bold step by opening non-profit corporate accounts on South Korea’s four major cryptocurrency exchanges: Upbit, Bithumb, Korbit, and Coinone. Starting in December, the city will begin transferring seized virtual assets from delinquent taxpayers’ accounts directly to its own exchange wallets. This direct approach to cryptocurrency sales eliminates traditional barriers that previously complicated digital asset seizure. The process involves several key steps: Identification of tax delinquents holding cryptocurrency assets Legal seizure authorization through proper channels Transfer of assets to city-controlled exchange accounts Strategic cryptocurrency sales to maximize returns Deposit of proceeds into the municipal budget Why is this cryptocurrency sales approach revolutionary? Traditional asset seizure faced significant challenges with cryptocurrency. Unlike bank accounts or physical property, digital assets require specialized handling and immediate action due to market volatility. Goyang City’s direct cryptocurrency sales method addresses these challenges head-on by establishing official exchange relationships. The city’s November 26th announcement marks a significant advancement in municipal finance technology. By creating non-profit corporate accounts, Goyang ensures proper legal standing for all cryptocurrency sales activities while maintaining transparency in asset management. What benefits do direct cryptocurrency sales provide? This innovative approach offers multiple advantages for both the city and taxpayers. The streamlined cryptocurrency sales process reduces administrative costs and speeds up revenue collection. More importantly, it allows the city to respond quickly to market conditions, potentially maximizing returns from seized digital assets. Key benefits include: Faster revenue generation for public services Reduced administrative complexity in asset liquidation Market-responsive timing for…

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Filed under: News - @ November 26, 2025 1:25 am