Yesterday night it was revealed that Bithumb, the largest exchange house in South Korea, was raided by police and tax authorities in the country. The news was reported by Reuters.
A representative of the exchange office informed that the exchange was intervened by the tax authorities to control the documents and accounting books of the company. Other sources indicate that the investigators collected financial information and confiscated hard drives.
On the other hand, a spokesman of Coinone, another house of change of the country said that the offices of this company were also raided during this week, and that police authorities have been investigating the exchange house for a year since last year, as they have suspicions of who make illegal bets.
According to information from Hankyoreh, this exchange house was supervised throughout this week, and that the relevant authorities limited themselves to asking questions about the size of the company, how many employees work with them now and the profits they collect thanks to their operations.
The country's local media, such as the SBS news programs, announced that the Ministry of Justice of South Korea currently has an agenda to follow and that it is focusing on monitoring exchange houses and regulating the market for cryptoactives. . The government compares the situation with cryptocurrencies with an episode that occurred with a betting game called Sea Story, where more than one million people registered monetary losses.
These actions are not entirely surprising, as the government had already been very interested in the subject of cryptocurrencies and Blockchain technology, specifically they are looking to regulate exchange houses, since every day there are more concerns about crimes where they link to cryptocurrencies.
I've read today that some Korean dumped 450 millions in ripple.