The headquaters of the National Tax Service in Sejong / Yonhap

The National Tax Service (NTS) has begun preparations to build a tracking system to levy taxes on cryptocurrency investment gains, in line with the government’s expansionary fiscal policy and the need for additional revenue, the agency said Thursday.

The move comes particularly ahead of the government’s plan to begin collecting taxes on profits from virtual assets from January next year.

The tax agency said it opened a bid to build an integrated system aimed at analyzing virtual asset transactions for corresponding taxation.

The project, worth 3 billion won ($2.02 million), was posted on the electronic bidding platform operated by the Public Procurement Service, which is…