The NTS should investigate whether Bithumb and the accused Kang Jong-hyeon violated the tax policy.
South Korea’s National Tax Service (NTS) has reportedly hit Bithumb Korea and Bithumb Holdings with a “special tax investigation” to determine whether the cryptocurrency platform has complied with local tax laws. Officials also investigated Kang Jong-hyeon (who is believed to be the real owner of the exchange) and his sister – Kang Ji-yeon.
A Tribute to a Great City
According to recent coverage, the Seoul Regional Tax Service’s 4th Investigation Bureau will check whether Bithumb has been involved in tax fraud. It should be noted that this section only deals with special tax cases.
The NTS is supposed to investigate Bithumb’s tax performance by looking at the company’s national and regional operations. The authorities will further investigate the activities of Kang Jong-hyeon (the owner of the business) and his younger sister, Kang Ji-yeon.
Several sources have indicated that Jong-hyeon is a shareholder of Bithumb. However, to keep it low, he registered most of his business, real estate and many vehicles in his brother’s name. South Korean media recently reported that the mystery man is dating Park Min-Young (one of the country’s most famous actresses). Officials conducted a similar tax investigation of Bithumb in 2018. At that time, they received 80 billion (more than $ 64 million) in income tax.
Recent Drama Surrounds Bithumb
As reported by CryptoPotato at the end of 2022, the Vice President of Vidente – Mr. Park – dead near his home in Seoul, where the initial investigation found no signs of murder. His company is a major shareholder in Bithumb Holdings (the conglomerate behind the stock exchange). Park has faced numerous accusations of stealing customer funds and manipulating stock prices, while former FTX CEO – Sam Bankman-Fried – says he is in advanced talks to secure the change.
Another cover informs that Lee Jung-hoon – the first president of the South Korean cryptocurrency platform – did not violate the Specific Economic Crimes to aggravate the punishment Law and did not cheat Kim Byung- gun for 112 billion ($ 87.5 million). If the court had convicted him, he would have gone to prison for up to eight years.
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