South Korean Tax Regulator investigates Fund manager Hashed

The South Korean National Tax Service is looking into the dealings of crypto investment firm Hashed.

The tax regulatory body is responsible for investigating tax evasion and illicit funds. 

Local news media Ajunews reports that the cause of the investigation, which started early last month, is unknown. Investigation into cases of tax evasion and slush fundraising are common within small scale businesses.

RELATED: South Korean opposition party wants to suspend Crypto Tax law

South Korean

However, all the companies investigated within the last year have escaped prosecution, suggesting that there’s a good chance Hashed will be declared not guilty. 

The source expects the examination to be rounded up by Feb. 2022. Hashed confirmed it has secured $200 million 1funding to grow the Web 3 ecosystem.

Earlier this month, South Korean lawmakers pushed ahead with their plan to halt the proposed new capital gains tax for crypto entities until 2023.

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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