South Korea Moves to Build AI Platform to Monitor Crypto Gains

South Korea's National Tax Service (NTS) is initiating a project, valued at approximately 3 billion Korean won ($2 million), to build an AI-backed system for analyzing cryptocurrency transaction data. This move precedes the planned implementation of a tax on digital asset gains starting in January 2027, which will impose a 22% levy on profits exceeding 2.5 million won ($1,700). The AI and machine learning platform aims to identify unusual transaction patterns, detect potential tax evasion, support tax audits, and uncover hidden income. The NTS plans to select a contractor by March, with system testing throughout the year and a projected launch between November and December. The analysis data will be shared with other agencies like the Korea Customs Service and the Bank of Korea. The implementation of this crypto tax framework has been delayed multiple times since the law was passed in 2020.

(Source：Cointelegraph)