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South Korean regulators target Bithumb in new probe

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The South Korea-based cryptocurrency trade Bithumb is beneath a “particular tax investigation” by the nation’s Nationwide Tax Service (NTS), in accordance with native studies.

On Jan. 10 tax brokers raided the trade’s headquarters within the nation’s capital metropolis Seoul as part of a compliance investigation. The investigation was carried out by the 4th Bureau of Investigation of the Seoul Regional Tax Service, which particularly investigates “particular tax investigations”, versus commonplace ones.

Beforehand, Bithumb was beneath a particular tax investigation in 2018 by the NTS, by means of which it gained roughly $64 million in earnings tax.

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