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 week witnessed a number of legal actions against blockchain and crypto criminals, led by the DoJ. IBM, Telefonica and Spain’s CaixaBank led the adoption of blockchain.
The CFTC and the South Korean gov’t are pursuing Ben Reynolds, the operator behind Control-Finance crypto scam who’s vanished since he defrauded 1,000+ clients.
The committee wants cryptos to be listed directly on the Korea Exchange, crypto companies to be licensed and recognized, and a national crypto custody solution.
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.
In the middle of one of Asia’s megacities, Seoul in South Korea, lies the next big thing for music—and Bitcoin SV.
The South Korean government intends to impose capital gains on crypto transactions by the first half of 2020, collecting data from crypto exchanges.
KT Corporation, South Korea’s largest telecoms operator, will rely on blockchain for its roaming charges with China Mobile.
The South Korean National Assembly has approved legislation that would classify digital currencies as digital assets, paving the way for them to receive legal status in the country.
The Ministry of Science and Technology of South Korea will invest KRW450 billion (~$382 million) to boost blockchain research and development.