Blockchain.info enters Indian market

Bitcoin wallet Blockchain.info to enter the Indian market via joining forces with the leading Indian Bitcoin exchange Unocoin
07 September 2017   1573

One of the biggest Bitcoin wallet provider companies and Bitcoin wallet, Blockchain.info, enters the Indian market via a partnership with the leading Indian Bitcoin exchange Unocoin.

We’re excited to announce that we have partnered with India’s most popular exchange, Unocoin, to give Blockchain users across India the ability to quickly and easily fund their Blockchain wallets.
 

Blockchain.info team

Beginning today, Unocoin exchange will be directly integrated within the Blockchain.info wallet to give the customers greater purchasing power without having to compromise security or control.

As detailed, for the first time ever, the Blockchain wallet can be funded in just a few clicks by linking the bank account, which is subject to bank transfer speed.

Blockchain.info  Blockchain.info 

Together with Unocoin, Blockchain.info is committed to making digital currency simple and more accessible throughout India. According to the company, today’s integration is an important step forward in eliminating the friction that many have experienced in buying Bitcoin.

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   124

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.