Cheongju, the capital of South Korea's North Chungcheong Province, has confiscated cryptocurrency assets from 203 residents since 2021 due to tax evasion. The city has established a crypto trading account on a domestic exchange, marking it as one of the first government bodies to do so. This account will facilitate the sale of seized crypto, with proceeds directed to the city's treasury. This initiative follows a regulatory change permitting government entities to engage in crypto trading. Cheongju has already amassed 1.5 billion won ($1.1 million) from 161 individuals. Meanwhile, Seoul's Gangnam district has also ramped up its crypto confiscation efforts, collecting 340 million won ($244,480) since late 2024.