Bithumb has filed a complaint with a court in South Korea, as it seeks to nullify a $69 million bill from the country’s tax agency.
Bithumb plans to invest $8M in the country’s regulatory sandbox in the crypto-friendly city of Busan, the first time an exchange will partner local gov’t.
The crypto exchange’s largest shareholder learned about the taxes days ago after acquiring a majority stake in the firm, intends on seeking legal redress.
The Korean exchange hopes it can succeed where other have failed by working with the regulators to launch an exchange with a difference from the rest.
Bithumb’s deal looks like it might fall apart as deadlines have been missed, and employees are being laid off.
Bithumb is instituting a routine review of its digital offerings, with the goal being to cut the fat.
South Korean cryptocurrency exchange Bithumb is making its debut in Singapore via a deal with Bitholic, a local crypto trading platform.
Against the backdrop of the ongoing bear market, only Upbit turned a profit for the year, bucking the trend which saw Bithumb, Coinone and Korbit post heavy losses for the period.
South Korean cryptocurrency exchange Bithumb has secured $200 million in fresh funding from a Japanese blockchain investment fund as part of a wider Series A funding round.