Nexon Group Set To Acquire Korean Exchange Bithumb in $457M Deal

Nexon Group, a video game development company, is set to acquire Korean exchange Bithumb for $457 million. This could end months of speculation about the future of the exchange placed on the market in 2020. Nexon Set for Record Acquisition According to local media, Nexon is positioning itself to purchase a 65% stake in Bithumb for around 500 billion Won ($457 million). Nexon has signed an agreement with Bithumb at the beginning of January but has not finalized the agreement.…

The Bithumb Exchange – An Easy to Follow Guide for New Users

Bithumb is one of the top cryptocurrency exchanges globally in terms of Bitcoin trading volume at this time. The platform was one of the earliest to achieve global recognition. Since its introduction to the market, the exchange has earned a reputation as an advanced, veteran cryptocurrency exchange. Today the platform offers products for both new and experienced traders.  Features of the Bithumb Exchange Bithumb is available as a PC application and a mobile app. The exchange includes an easy to…

Huobi Group Set to acquire Korean Exchange Bithumb

Chinese crypto exchange Huobi is set to take over the reins of Bithumb, according to reports. The Korean news outlet, The Bell, revealed today that Huobi had expressed an interest in purchasing Bithumb. Bithumb is the largest crypto exchange in Korea and has been actively looking for a buyer since a takeover deal collapsed in September.  The report further says that Huobi could take a majority stake in the Korean exchange. It is also understood that shareholders of Bithumb parent…

Bithumb and Chainalysis Join Following New South Korea Crypto Regulations

Chainalysis, the blockchain analytic company, announced the successful deployment of its investigations solution, Chainalysis Reactor, with Bithumb Exchange.  The announcement follows the South Korean National Assembly’s vote last week in favor of amending the Special Financial Transactions Information Act. The Chainalysis Reactor is an investigation software linking crypto transactions to real-world entities. The feature allows crypto businesses and law enforcement agencies to tackle criminal activities, including fraud and money laundering on the blockchain. In this case, Bithumb will use Chainalysis…

Bithumb Global Announces Assets Transfer Now Possible

On 26th February, Bithumb Global announced that the exchange would now support Bithumb and Bithumb Global asset transfers. Bithumb, which is South Korea's largest crypto exchange, is looking to expand its global coverage, and the move will help strengthen its connection with Bithumb Global. Users who are subscribed to Bithumb Global with a Bithumb account will benefit from the exchange's new feature. Highlights of the Asset Transfer One of the best highlights of this new feature is that the asset…

South Korea To Tax Crypto Incomes at 20% Rates

South Korea finance officials plan to implement a twenty percent tax on income from cryptocurrencies. Currently, definite laws to tax crypto profits do not exist in the country. A report by Korea Herald stated that the country’s ministry of economy and finance had authorized the office of income tax to look into a taxation plan, which made people speculate that the authorities could classify gains from crypto trading as other income. As per the government official, the finance ministry is…

Bithumb Makes Plans to Litigate Tax Bill

Bithumb, a South Korean crypto exchange, is thinking of undertaking administrative litigation over tax bills. The value of the tax bill is $ 68.9 million. On the 29th of December, the KoreaHerald pointed out about the local tax agency passing along 80 billion won in taxation on Bithumb. The documents published by Vidente, the largest shareholder of the exchange, show that the National Tax Service forced Bithumb to pay withholding taxes on international customers’ trading activities. Reportedly, Vidente only got…