Crypto Exchange Bithumb Takes Korean Tax Authority to Court Over $69 Million `Groundless´ Tax
(WorldNews South Korea)

Advertisment Bithumb, a major crypto exchange in South Korea, has taken the country’s tax authority to court over a “groundless� tax imposed on the exchange. Experts explain that currently there are no grounds to tax crypto transactions in South Korea and existing tax laws do not apply to crypto transactions. Also read: Regulatory Roundup: EU-Wide Crypto Regulations, New Rules in Europe, US, Asia Bithumb Seeks to Nullify Tax Bill While South Korea currently has no law to tax crypto profits, the country’s National Tax Service (NTS) has imposed a tax of 80.3 billion won ($69 million) on Bithumb, one of the largest crypto exchanges in the country. Bithumb subsequently...