Bytecoin Hard Fork Info Unveiled

Bytecoin hard fork will be implemented on June 12, including a new dynamic fee system and deconstruction of the old API
20 March 2018   5544

Bytecoin is a private, decentralized cryptocurrency with open source code that is designed to allow users to take part in the Bytecoin network development. The coin is aimed at providing privacy and security for people using Bytecoin. The reliability of Bytecoin is defined by the total computational power of all the computers that take part in the processing of transactions.

As it is stated in the roadmap of Bytecoin, its hard fork will be implemented on June 12, including a new dynamic fee system and deconstruction of the old API. All users are recommended to move to the new wallet by that time.

Bytecoin roadmapBytecoin Roadmap

Previously, we have reported that the development team of Bytecoin is working hard on the project, and it has already released the public new API beta version on February 6, 2018, and the new stable API is released on March 20, 2018.

At the moment of press, these are main market parameters of Bytecoin:

Average price: $0,002667
Marketcap: $490 090 356
24h volume: $2 496 430

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.