Coin Edition -
- Bithumb Holdings comes under federal probe for suspected tax evasion.
- The current probe is the second time Bithumb has been subject to a tax investigation.
- Bithumb ranks among the top 10 crypto exchanges with a 6.1 rating.
South Korean tax authorities are looking into the business operations of the parent company of the Bithumb crypto exchange, Bithumb Holdings, for alleged tax evasion.
According to Yonhap News, a local media report on Tuesday, the Bureau of Investigation of the Seoul Regional Tax Service is investigating alleged tax evasion by Bithumb Korea, Bithumb Holdings, and affiliates on domestic and foreign transactions.
The current probe represents the second time the crypto enterprise has been subject to a tax investigation by the South Korean government. In 2018, Bithumb Korea got a multi-million-dollar bill for back taxes, even though the company was not found guilty of tax evasion in the inquiry of that year.
Recently, Bithumb Holdings made headlines over a case against its former chairman, Lee Jung-Hoon, who was acquitted of charges that he committed $100 million in fraud.
According to reports, South Korean prosecutors have also questioned Kang Jong-hyun, another former chairman at Bithumb, and his younger sister, Kang Ji-Yeon, over an embezzlement case involving related companies.
According to the mark ...
The post South Korea Goes After Bithumb for Another Tax Evasion Scandal appeared first on Coin Edition.