Korean authorities find no illegal activity in Bithumb investigation

posted 17 days ago
The investigation into the largest exchange in South Korea, Bithumb by multiple South Korean authorities reveals that there was no wrongdoing on the company's behalf, despite a large tax bill.

Bithumb now has a tax bill of 30 billion won to pay, which amounts to roughly $28 million.

A tax bill that big isn’t very surprising, as the platform charges average fees of 0.3% on roughly $250 million in transactions per day.

If Bithumb charges this much for trades, that would mean that the company makes a staggering figure of roughly $750,000 per day, which amounts to almost $274 million per year.
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