Einsteinium to Release Weeee Cash Platform

Weeee Cash is both a social network app and lite mobile wallet for EMC2, which will be released on March 16, 2018
14 March 2018   1331

The Einsteinium Foundation’s mission is to raise funds for scientific research. Its mining tax creates a pool of funds that provide grants to deserving applicants. Einsteinium has integrated crowd funding into the process to award the grant beneficiary more funds than it could immediately supply. This enables the team to market the project, coin, sponsor items, and the benefits of cryptocurrency to a wider audience.

Einsteinium has recently announced that it is releasing Weeee Cash on March 16, 2018. Weeee.io is an EMC2 based social platform consisting of multiple mobile and web applications. The first in the series, ‘Weeee Cash’ code is complete and is in the testing phase.

Weee Cash release announcementWeeee Cash Release Annoucement

Weeee.io is both a social network app and lite mobile wallet for EMC2. The App will allow users to exchange items where each item’s price is calculated in EMC2, and items are presented in the form of stickers. Moreover, the App will allow direct transfer of EMC2 coins, notifications, and even a map of stores where the users will be able spend and buy coins nearby.

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

Average price: $0,378814
Marketcap: $82 059 021
24h volume: $80 365 800

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   97

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.