Bitcoin price to the moon despite hardfork talks

The price of the top cryptocurrency recovers and now tends to the mark of $5,000
02 October 2017   1455

It’s been quite a tough time for the cryptocurrency community lately. The whole China-against-Bitcoin thing resulted in the top cryptocurrency price falling. Now, the largest Bitcoin exchanges, such as ViaBTC and BTCChina, are closed.

However, it seems that over the past week, the Bitcoin price has fully recovered.

Thus, today, on October 2nd, the price of the top cryptocurrency surpassed $4,437, nearing the target of $5,000.

Bitcoin price chart on coinmarketcap.com
Bitcoin price chart on coinmarketcap.com

Thus, lately Bitcoin has demonstrated a rapid rate of recovery, rebounding from $3,500 to $4,430 in a span of less than two weeks. On top of that, the market capitalization of Bitcoin has increased from $59 billion to $73 billion.

Bithumb Filed Appeal Against Korean Tax Office

Looks like the korean exchange doesn't really want to pay an additional tax worth $67 000 000
16 January 2020   91

The South Korean cryptocurrency exchange Bithumb has filed a complaint against the National Tax Service (NTS) because of the requirement to pay additional taxes for the transactions of its foreign customers.

The company claims that cryptocurrencies do not have an official status in the territory of South Korea, which is why the authorities cannot have sufficient reasons to levy any taxes.

The tax court will have to decide within 90 days whether to retain or withdraw from Bithumb the obligation to pay the $ 69.1 million tax that was assigned to it by NTS in November. The Office declares that the withdrawal of income from accounts in Korean won by foreign residents is a taxable event. It is assumed that the exchange itself had to withhold tax from its foreign customers.

We paid the full amount and have since been preparing for arguments. We believe we will be given a chance to clarify our stance in court.

 

Bithumb

 The ministry has its own position on this issue.

Bitcoin under the current law is not an asset. It is clear and simple. The Ministry of Economy and Finance already made that clear. The NTS pushing ahead with the tax imposition is baseless and groundless, especially since it is still awaiting the ministry opinion on the same matter it sought again.

 

Choi Hwoa-in

Adviser to Financial Supervisory Service

According to the expert, the NTS maneuver is well thought out and aimed at starting to levy a tax on income that is currently not taxable.

We cannot comment on the ongoing matter. We will await the judgment from the Tax Tribunal.

 

NTS

Earlier, Bithumb was ordered to pay an additional $ 67 million in tax.