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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69 sats \ 3 replies \ @nerd2ninja 14h
Geo-disbursed timelocked multi-sig is a hell of a power trip
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32 sats \ 2 replies \ @konstantin21 14h
also overly complex for the majority of individual holders.
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63 sats \ 1 reply \ @nerd2ninja 8h
For people who don't care to learn, anything and everything is complex.
But paid help exists
https://wizardsardine.com/liana/#partners
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0 sats \ 0 replies \ @SatAttack 1h
Oof, well said, ninja. And thank you for the link that's really cool.
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86 sats \ 3 replies \ @SatAttack 17h
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?
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31 sats \ 0 replies \ @SimpleStacker 12h
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)
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10 sats \ 0 replies \ @OT OP 17h
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?
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0 sats \ 0 replies \ @BeeRye 17h
jail ? (hopefully not)
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42 sats \ 0 replies \ @SilentHash 16h
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.
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100 sats \ 1 reply \ @DarthCoin 10h
How I imagine people paying taxes
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0 sats \ 0 replies \ @krispy_donkey 7h
Genuinely funny 🤣
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