OP Coin undergoes a swap

OP Coin is going to start a swap of its initial OPC to OPCX on May 14 along with the Masternode wallet release
08 May 2018   1759

As OP Coin prepares for the swap, the project has announced the start date on May 14. The swapping period ends on May 29. A special bot accomodating the swap to OPCX is under development and testing. The original OPC blockchain will remain in tact with only 60-75% of all OPC to be swapped. OPC and OPCX will be connected in certain ways to support each other. The ratio of the swap is 20:1 with all the swapped OPC to be burned.

The project's new domain is under development for the new token

Simultaneously with the start of the swap an OPCX Masternode wallet is going to be rolled out. The wallet will feature extra privacy. To learn more about the details of the swap, you can read the OP Coin biweekly update here. Concerning the market parameters of the OPC at the moment of publication, they are as follows:

Average price $0.004117
Market cap $587,757
Volume (24H) $314,298

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.