South Korean tax authorities are looking into Bithumb Holdings, the parent company of a cryptocurrency exchange based in the country, according to Yonhap News on Tuesday. According to reports, the National Tax Service is looking into possible tax evasion by Bithumb Korea, Bithumb Holdings, and affiliates through domestic and international transactions. A company official confirmed the investigation to CoinDesk Korea, but declined to provide further details. This is the second time the cryptocurrency company has faced a tax investigation in South Korea. Bithumb Korea was hit with a multimillion-dollar bill for back taxes in 2018, despite the fact that an investigation determined the company was not guilty of tax evasion.
