**Paju, South Korea Targets Crypto Tax Evaders**

Paju, a city in South Korea's Gyeonggi Province, is cracking down on tax evaders by targeting their cryptocurrency holdings. Local authorities have notified 17 residents with unpaid taxes totaling 124 million Korean won (about $88,600) that their crypto assets will be seized and sold if debts remain unpaid by the end of November. Officials are determined to track down these assets, emphasizing that crypto cannot be used to dodge taxes. This follows a similar action in July when the city seized 100 million won in crypto from tax delinquents.

**Tokenized VAT Refunds in South Korea**

In other news, South Korea's NongHyup Bank is exploring tokenized VAT refunds. Partnering with digital assets platform Fireblocks, the bank aims to pilot a system using tokenization to streamline tax refunds. This initiative promises real-time tracking and reduced operational costs, enhancing transparency and trust in financial transactions.