Brooklyn to host Fluidity Summit

The future of finance will be discussed during Fluidity Summit session in Brooklyn on May 10
19 April 2018   952

Fluidity Summit 2018 is taking place on May 10 in Brooklyn at the Weylin venue. Joined by such companies as AirSwap, Gnosis, OmiseGo, PWC, ConsenSys, Ethereum that are already shaping the future platforms of trade, the event promises to share spirited and multi-perspective conversation about opportunities, possibilities and responsibilities in the future of finance.

The overall flow of the summit goes as follows:

  1. Finance is Broken (we begin by framing the root of the problem)
  2. A History of Trade (from the advent of currency to the takeover of algorithms)
  3. The Currency Revolution (a world where anyone can spawn a monetary system)
  4. The Tools of Trade (how the future of trade will be built and scaled)
  5. Building a Global Marketplace (how we bring trade to a worldwide audience)
  6. The Legal Landscape (how our regulatory and legal systems will evolve)
  7. Giving Ownership Back (returning and restoring the control of what we own)
  8. Moving Beyond Borders (the future of finance knows no bounds)

Among the notable speakers, there will be ConsenSys CEO and Ethereum co-founder Joe Lubin, Bitfury Head of Strategy Bill Tai, Messari CEO and co-founder Ryan Selkis, Galaxy founder Mike Novogratz and others.

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.