Gyeongnam Province Recovers $45.7 Million in Back Taxes via Crypto Seizures
- Tax Recovery Success: Gyeongnam Province has successfully recovered 62.4 billion won (approximately $45.7 million) in delinquent local taxes through crypto asset seizures, demonstrating the effectiveness and determination of local governments in tax collection efforts.
- Investigation of Hidden Crypto Assets: In the first quarter of this year, the province investigated delinquent taxpayers on four major virtual asset exchanges, identifying 976 individuals with taxable crypto assets and recovering 980 million won (about $718,000) in overdue taxes from 887 of them.
- Emerging Regulatory Trends: As digital asset adoption rises, the South Korean government has intensified its efforts in tracing and seizing virtual assets, and Gyeongnam's success may encourage other regions and countries to adopt similar measures to enhance tax compliance.
- Increased Exchange Cooperation: The province's actions indicate that virtual asset exchanges are cooperating with government requests for account data, enhancing tax authorities' ability to detect undeclared digital wealth, thus alerting taxpayers to compliance risks.
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Technical Analysis for U
Technical Sentiment Analysis for Union (U). As of , Union (U) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 3 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for U stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, U is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Union (U) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.999 | 0.999 | 1 | 1.001 | 1.002 | 1.002 | 1.003 |
| Fibonacci | 0.999 | 1 | 1 | 1.001 | 1.001 | 1.002 | 1.002 |
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