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South Korea’s Hashed Under Tax Investigation
The investment firm announced $200 million in new funding last week.
South Korean crypto investment firm Hashed is being investigated by Seoul tax authorities, CoinDesk Korea reported on Tuesday.
- The 4th Bureau of Investigation of Seoul’s Regional Tax office, which is handling Hashed’s case, is responsible for cases of tax evasion and fraud, according to the report. The reason for the audit hasn’t been disclosed.
- No company investigated by the 4th bureau has been reported for prosecution in the past year, CoinDesk Korea noted, concluding that it is unlikely that Hashed will be.
- The investment firm announced a $200 million fundraising for Web 3 projects just last week, adding to its $120 million in funding from last December. It is one of the best-known South Korean crypto investors; its portfolio includes games like Axie Infinity and The Sandbox, as well as Terra, the blockchain behind the LUNA token.
- Hashed told CoinDesk Korea that it cooperated with the investigation and handed over all the requested information.
- South Korean legislators last week decided to delay a new capital gains tax on crypto by one year.
Read more: South Korea Delays Plans to Tax Crypto to 2023
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Eliza Gkritsi
Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI, having previously covered mining for two years. She previously worked at TechNode in Shanghai and has graduated from the London School of Economics, Fudan University, and the University of York. She owns 25 WLD. She tweets as @egreechee.
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Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access
A coalition of fintech and crypto trade groups is urging the White House to defend open banking and stop JPMorgan from charging fees to access customer data.
What to know:
- Ten major fintech and crypto trade associations have urged President Trump to stop big banks from imposing fees that could hinder innovation and competition.
- JPMorgan's plan to charge for access to consumer banking data may debank millions and threaten the adoption of stablecoins and self-custody wallets.
- The CFPB's open banking rule, which mandates free consumer access to bank data, is under threat as banks have sued to block it, and the CFPB has requested its vacatur.
