South Korean Tax Service Investigates Cryptocurrency Company Hashed – Bits Media

Investment company Hashed is suspected of tax evasion and collecting money from investors without permission from local authorities.

South Korean Tax Service (NTS)
is investigating Hashed's activities, one of the leading investment cryptocurrencies South Korean companies. The investigation is being led by the 4th Investigation Bureau of the Seoul Regional Tax Administration., which deals with cases, related to tax evasion and fraud.

A representative of the regional tax office said, that they cannot provide the reason for the investigation. But noted, that “investigation of the activities of small enterprises, related to fundraising without prior notice or tax evasion by the CEO of a company is not uncommon.”.

The investigation into the activities of the cryptocurrency company Hashed began in November and, as expected, will end no later than the end of February 2022 of the year, just days before the South Korean presidential election 9 Martha 2022 of the year. By this time, the authorities plan to introduce an income tax on cryptocurrencies.

Hashed – one of the leading companies in South Korea for investments in cryptocurrencies. Was founded in 2017 by Simon Seojun Kim (Simon Seojoon Kim). This is an “incubator” for cryptocurrency companies. Hashed's investment portfolio includes more than 80 companies, including Klaytn and Cosmos, DeFi protocols, such as MakerDAO and Synthetix, and NFT brands, including The Sandbox and Axie Infinity.

IN 2018 Hashed launched a venture fund worth $120 millions. 1 December 2019 year, the company launched its second venture fund on $200 millions. In September 2021 year the company reported, that will launch a new fund with a funding volume of $170 million, which will invest in companies from the blockchain industry and is aimed at developing Web3. In December 2021 year Hashed, investing in blockchain startups, launched a regulated fund for investments in the decentralized finance industry (DeFi).