Bithumb gave top VIP clients prepaid cards with annual limits up to 140 million won
- —The Bithumb Black card targets clients trading over 100 billion won a month
- —Three Signature Black members can spend up to 35 million won per quarter
- —228 clients used the card from February 2024 to September; 73 remain active
- —The dispute centers on whether the costs are entertainment or sales promotion expenses
Why it matters: The tax classification dispute could trigger back-tax assessments for Bithumb and set a precedent for Korean exchanges.
Source: TokenPost