Bithumb has filed suit in tax court, accusing South Korea's Internal Revenue Service of "unfounded" taxation

South Korean currency exchange Bithumb said the company has filed a lawsuit with the tax court, accusing the Korean National Tax Service (NTS) of taxing its users "baselessly." Bithumb claims that cryptocurrencies are not a legally recognized currency, so the authorities lack a reason to levy any taxes.
The tax court will have 90 days to decide whether to approve or dismiss Bithumb's motion, which seeks to repeal NTS '80.3 billion won ($ 69.1 million) withholding tax imposed on Bithumb last November.