Korean authorities find no illegal activity in Bithumb investigation

posted about 1 year 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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