TechFlow News, according to Digital Daily, South Korea's National Tax Service has selected a consulting firm to develop a "Virtual Asset Integrated Management System" for analyzing and managing virtual asset transaction data collected under the obligation for individuals to report digital asset trading details.
The tax authority chose GTIC as the lead company for this virtual asset integrated management system project at the end of February and has begun a consultation period lasting approximately four months.
The system aims to effectively analyze and manage information gathered from mandatory reporting of virtual asset transaction histories. Based on the consultation outcomes, a proposal for system development will be issued, with plans to launch the system in 2025.
