Justin Sun to Report on "Secret Project"

The project will involve the BitTorrent and DLive and, acc. to Sun, it will create at multibillion benefits for BTT & TRX ecosystem
13 January 2020   118

Justin Sun, founder of the Tron cryptocurrency platform, announced plans to launch a secret project involving the BitTorrent and DLive platforms. According to the most conservative estimates, he argues, the project will create multibillion-dollar benefits for BTT and TRX token holders, as well as attract at least 100 million new users.

Sun did not bring any other details, promising to provide additional information soon.

The fact that the DLive video content exchange platform will join the BitTorrent ecosystem and switch from the Lino blockchain to TRON by integrating the BTT token became known at the end of December 2019.

It is also expected that the BLive streaming service from BitTorrent will unite with DLive in the near future, and the platform itself will start using the BitTorrent File-Sharing System (BTFS) distributed file storage and sharing system and integrate account systems with the peer-to-peer network.

DLive has 5 million active users per month, with BitTorrent this figure reaches 100 million.

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.