The value chart of the crypto exhibits optimistic dynamics. Costs are surging by 7.1% at present. Not too long ago, the ICON Basis, the creator of the ICON Undertaking (ICX), has revealed an official response to the information that the South Korean tax authorities are investigating their technical companion ICONLOOP. In a press release launched on Monday, ICON Basis chairman Min Kim stated the investigation wouldn’t have an effect on the ICON Basis, noting that ICONLOOP operates as a separate group. ICON Basis is a non-profit group based mostly in Switzerland. On the finish of 2017, she carried out an preliminary coin providing for her personal ICON blockchain coin, ICX, elevating over $42 million within the course of. ICONLOOP is a technical companion of the ICON Basis, working from South Korea, and the creator of the “loopchain” know-how on which ICON is predicated.
It has beforehand been utilized by the Seoul authorities in numerous blockchain pilot initiatives, together with analysis on the COVID-19 monitoring app, citizen awards, and cell driver’s licenses. ICONLOOP is the second blockchain firm that the Korean tax authorities investigated this yr. In January, he launched an investigation in opposition to HN Group, the issuer of the HDAC token. It’s anticipated that the official tax legal guidelines for the issuance of digital belongings in South Korea shall be enforce subsequent yr. In the meantime, the Nationwide Tax Service has initiated tax evasion procedures and accounting audits for giant home issuers of digital belongings.
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