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>>South Korea deploys a cutting‑edge AI platform to scrutinize eight billion cryptocurrency transactions in a bid to curb tax evasion.

South Korea deploys a cutting‑edge AI platform to scrutinize eight billion cryptocurrency transactions in a bid to curb tax evasion.

crypthub

about 12 hours ago

AI‑Driven Crypto Tracking Initiative

South Korea’s National Tax Service will launch an AI system to scan roughly 8 billion cryptocurrency transactions each year. The platform aligns with upcoming virtual‑asset tax rules and compulsory exchange reporting. Its purpose is to boost compliance and curb tax evasion in the fast‑growing market.

Integrated System Architecture

Secure pipelines will pull data from all licensed exchanges into machine‑learning models that flag anomalous patterns and cross‑reference crypto activity with existing tax records. The system also identifies suspicious wallet movements, unknown beneficial owners and possible market manipulation. Unlike U.S. or U.K. efforts that rely on third‑party tools, South Korea is building a fully integrated, custom AI solution.

Expected Outcomes and Challenges

Authorities anticipate greater market transparency, increased institutional interest and reduced manipulation. Technical hurdles include processing massive data volumes, standardising exchange formats and meeting strict privacy regulations. Successful deployment could set a benchmark for cryptocurrency oversight worldwide.