South Korea Launches Investigation into Bithumb
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South Korea's National Tax Service (NTS) has just launched a special investigation into the operators of crypto exchange Bithumb, local publication Yonhap has reported.

The South Korean authorities reportedly want to verify possible violations of tax laws by Bithumb Korea, Bithumb Holdings and other affiliates by analyzing their domestic and international transactions.

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This is not the first time the exchange has faced tax claims. As a result of a previous investigation, the NTS demanded that Bithumb Korea pay around $69 million in taxes on profits received from investments by foreign users of the platform by the end of 2019.

In September 2020, the police conducted a series of raids on the offices of companies associated with the exchange as part of an alleged $25 million scam related to the sale of BXA tokens.

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