The investigation conducted by the tax service and the financial regulator of South Korea against cryptocurrency exchanges Bithumb, the largest in the country, is over, and all the earlier charges were dropped.
The exchange was charged with tax evasion on $28 million, but in the process of the investigation the investigators failed to detect any evidence of illegal activity and any suspicious financial transactions, as well as to prove the fact of evasion from tax payments.
For several months, the local stock market was in a fever that had affected the traders ‘ work. Two of the largest UPbit crypto currency exchange and Bithumb, fell under the scope of the financial regulator, tax and financial intelligence, who has closely studied the activities of the trading platforms.
The evidence of guilt was not collected
It should be noted that the leaders of the two kryptomere configured to cooperate with the authorities and provided all the necessary investigation information.
Almost immediately after the search and seizure of documents in the office UPbit in Seoul, which was suspected of manipulating the balance of investors, government officials came to the office Bithumb, accusing its leadership in suspicious activity and negligence.
In the investigation against UPbit the authorities failed to press charges because there was insufficient evidence, for the same reason had to close the investigation against Bithumb.
Now South Korean police have charged the leaders of cryptobiina Coinone in illegal activities. Police equated the marginal cryptocurrency trading to gambling, which are forbidden in the country and subject to criminal prosecution.
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