S. Korean Investment Firm Hashed Under Tax Investigation

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South Korean crypto funding agency Hashed is being investigated by Seoul tax authorities, CoinDesk Korea reported on Tuesday.

  • The 4th Bureau of Investigation of Seoul’s Regional Tax workplace, which is dealing with Hashed’s case, is accountable for circumstances of tax evasion and fraud, in accordance with the report. The cause for the audit hasn’t been disclosed.
  • No firm investigated by the 4th bureau has been reported for prosecution up to now 12 months, CoinDesk Korea famous, concluding that it’s unlikely that Hashed will probably be.
  • The funding agency introduced a $200 million fundraising for Web 3 initiatives simply final week, including to its $120 million from December of final 12 months. It is among the most well-known S. Korean crypto traders; its portfolio consists of video games like Axie Infinity and The Sandbox, in addition to Terra, the blockchain behind the LUNA token.
  • Hashed informed CoinDesk Korea that they cooperated with the investigation and handed over all of the requested data.
  • South Korean legislators final week determined to delay a brand new capital positive factors tax on crypto by one 12 months.

Read extra: South Korea Delays Plans to Tax Crypto to 2023