South Korean crypto investment firm Hashed is being investigated by Seoul tax authorities, CoinDesk Korea reported on Tuesday.
- The 4th Bureau of Investigation of Seoulâ€™s Regional Tax office, which is handling Hashedâ€™s case, is responsible for cases of tax evasion and fraud, according to the report. The reason for the audit hasnâ€™t been disclosed.
- No company investigated by the 4th bureau has been reported for prosecution in the past year, CoinDesk Korea noted, concluding that it is unlikely that Hashed will be.
- The investment firm announced a $200 million fundraising for Web 3 projects just last week, adding to its $120 million from December of last year. It is one of the most well-known S. Korean crypto investors; its portfolio includes games like Axie Infinity and The Sandbox, as well as Terra, the blockchain behind the LUNA token.
- Hashed told CoinDesk Korea that they cooperated with the investigation and handed over all the requested information.
- South Korean legislators last week decided to delay a new capital gains tax on crypto by one year.
Read more: South Korea Delays Plans to Tax Crypto to 2023