[South Korea's National Tax Service to Introduce Commercial Tracking Programs to Address Taxation Loopholes in Personal Wallet Virtual Assets] According to Digitalasset, South Korea's National Tax Service plans to introduce commercial tracking programs currently used by domestic and international investigative agencies to track and analyze the flow of funds between digital asset wallets, aiming to close the taxation loopholes in personal wallet virtual assets. The South Korean government stated that digital assets held in personal wallets and overseas exchanges are subject to taxation as long as income is generated from transfers or lending. For overseas exchanges, the issue will be addressed through the Crypto-Asset Reporting Framework (CARF).