South Korea’s National Tax Service (NTS) has issued a warning to digital asset holders: those who fail to settle their tax debts risk having their cold wallets seized directly from their homes.
Make sure your security setup is strong stackers!
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Geo-disbursed timelocked multi-sig is a hell of a power trip
also overly complex for the majority of individual holders.
For people who don't care to learn, anything and everything is complex.
But paid help exists https://wizardsardine.com/liana/#partners
Oof, well said, ninja. And thank you for the link that's really cool.
Yeah man. I am curious what the outcome would be if a bitcoiner there had cold storage but zero signing device on him. If there’s nothing to seize what would be the response?
I wondered the same thing. Or they seize the signing device and realize they can't access the coins since there's a passphrase wallet or you had already moved it (and they wouldn't know which)
I think the threat through the media is enough to get most paying their taxes. The article reads slightly noobish saying stuff like "hiding their coins in cold storage". If it's hidden, how do you know about it? And how can you tell if its in cold storage or a hot wallet?
jail ? (hopefully not)
Cold wallets used to mean peace of mind. Now they might mean a knock at the door. South Korea leveling up the boss fight—better upgrade your security setup and maybe your hiding skills too.
How I imagine people paying taxes
Genuinely funny 🤣