Crypto Exchange Bithumb Takes Korean Tax Authority to Court Over $69 Million ‘Groundless’ Tax | Jan 17, 2020 at 10:58 AM
  • Bithumb, a major crypto exchange in South Korea, has taken the country’s tax authority to court over a “groundless” tax imposed on the exchange.
  • To tax Bithumb, the NTS has categorized foreign traders’ crypto gains as miscellaneous income.
  • In South Korea, capital gains tax is collected for every transaction made.